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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Cal Gary who wrote (8584)12/12/2001 2:34:07 PM
From: SofaSpud  Read Replies (1) of 24921
 
Seems pretty clear that the sector is running off commodity prices right now. Gas prices aren't going up any time soon, and oil prices will only go up if Binnie's boys nuke Saudi. I'm certainly planning to add to my positions, but not for a while.

Careful with RAX -- that debt scared me off. Remember 1998? At the beginning of the year, lots of companies had tolerable debt at 2x CF. By the end of the year CF had fallen so far that some of them were at 5x. RAX has had to scale back capex, so production growth is questionable. In a weak price environment, debt is going to undermine the share price big, IMHO.

Thanks for the TA comments on ELK.
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