Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Roebear who wrote (18650)	9/11/2002 9:34:30 PM
From: kingfisher	Read Replies (2) of 36161

Yes cash is cozy but look at the great opportunities in the Canadian market . Baytex energy growing production and trading at less than 2 X cash flow. Will flow $3.90 cash flow next year assuming oil averages $22 per barrel.You can pick it up for under $7 Canuck pesos. This stock has gotten over KYOTOAD! Same thing with Upton Resources. Sherritt into oil,gas,nickel,coal and trading at an annualized P.E. of less than 6 because of the Cuba discount. Fidel isnt going to live forever. There are also plenty of small cap special situation energy plays.Companies who will grow production even with oil at $20 a barrel. I am quite comfortable with 30% cash and 70 % into oil and gas exploration.

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