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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Edward W. Richmond who wrote (9478)	1/22/2003 10:49:11 PM
From: Ed Ajootian	of 24937

Ed R, Thanks, good questions. As Kastel mentioned the fact that Sherritt is in there also is somewhat comforting re: possible currency restrictions or risks of nationalization. Also, Pebercan has only drilled on 1 of something like 4 or 5 concessions they were given, so you would think that Fidel would hold off on nationalizing them until they are finished exploring. They produce heavy oil and although they can't sell it to the US (obviously) they appear to be getting decent prices for it from Cuba. I believe the price differential for heavy oil vs. light sweet crude has narrowed due to the Venezuelan strike. Still haven't bought any of this one, just watching it for now. At some point the more conventional oil & gas investments are all gonna get bid up too far and I am looking for this weird stuff to get into at that time.

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