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Gold/Mining/Energy : GENTRY RESOURCES LTD. (GNY.B - TSE)
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To: Bob Vukovich who started this subject11/25/2001 8:34:43 AM
From: Len Hynes   of 601
 
Gentry just recieved a buy recommendation from Octagon Capital with a target of $1.35 as part of a very detailed research report.

Several interesting highlights include:
*Gentry will exit 2001 with approx. 1900 boe/d.

*Production growth forecast of 80% for 2002, with average production growing to above 2600 boe/d, driven primarily by Provost East and Princess.

*Cash flow forecast of $5.4 million for 2001, and $8 million for 2002.

*Gentry is set to begin the first of five committment wells with Rocky Mountain Energy on the Princess acerage.The principal objective of the exploration program is natural gas from Devonian and Mississippian-aged targets.

*Gentry is currently traing at a 25% discount to fully diluted net asset value per share(FDNAVPS) of $1.35.Success at Princess will significantly increase Gentry's hydrocarbon reserves and net asset value.

*Gentry's earnings are forecasted to grow to approx. $.23/share in 2002....more than triple the $.07/share estimate for 2001.

*Fully diluted cash value per share of $.24/share will grow to $.36/share in 2002.

*Gentry expects to benefit from the significant upside in Stratic's Cote d'Ivoire well, expected to be drilled in 2002.Gentry has a 75% controlling interest in Stratic Energy.

*Gentry expects to drill four wells on its high impact Provost East property by Q1 2002.Production from Provost East is predicted to grow from 2 mmcf/d to 10 mmcf/d in 2002.

Should be a very exciting and interesting time ahead for Gentry shareholders.

Len
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