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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: stan_hughes who wrote (9294)	9/29/2002 10:17:34 PM
From: kingfisher	Read Replies (2) of 24910

News in Globe suggest management is considering a trust format for Baytex. On Stockhouse someone mentions Calgary Herald article says management in no hurry. Yorkton says $17 to $25 if converted to trust. Baytex will be continue to be a great trading stock. My bet is only 50% of assets are comfortable within the Royalty trust format .Considering trust trade at 5 to 7 times cashflow,half of Baytex should be valued at $9.25.Lets say $8 due to heavy oil emphasis.Other assets at $4 based on Fridays close. One I really like is Upton URC trading at less than 2 times cash flow,Tappit TPT trading at 1.5 times cash flow. Defiant DEF at 2.5 times 03 cash flow.Hawk Oil HWK at less than 3 times 02 cash flow.

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