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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: energyplay who wrote (3780)	8/25/2001 9:25:33 AM
From: stan_hughes	Read Replies (2) of 206326

energyplay - Not to sound picky, but CP is spinning off their control block of shares of PanCanadian Petroleum (PCP:TSE), not PetroCanada (PCA:TSE). PetroCanada is the so-called national oil company that arose from some misplaced nationalistic energy policies from the 70s. It evolved into just another refiner/marketer, and an inefficient one at that. The government has reduced its ownership over the years and is expected to ditch the rest in the next few years. PanCanadian on the the other hand holds the largest exploratory land position is Canada, thanks to getting dibs on railway properties and rights-of-way as a result of its association with CP. PCP has long been perceived as a company that has never lived up to its potential, and most of the excitement from this spinoff is founded on hopes that they will now be able to do their own thing without interference from the CP bureaucracy. Lots of other things spinning out of that CP breakup as well - you're going to have your hands full of shares in ships, hotels, railroads, oilcos, and whatever - you'll be a regular robber baron.

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