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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (9542)2/15/2003 8:25:06 PM
From: Kerm Yerman   of 24921
 
Kerm's Tier III Portfolio Material Change

The following companies are being transferred out of this portfolio to establish a Services Portfolio.

Cancoil International Services (CAN)
Wellco Energy Services (WLL)

The amounts originally invested into these companies will reduce the actual investment in the Tier III Portfolio.

Landover Energy
2500 Shares
Cost $0.48/Share

Landover Energy (LND) was acquired by Viking Energy Royalty Trust (VKR.UN). Terms of the takeover was cash, $0.625 for each LND share. Total gross proceeds amounts to $1,562.50 and has been added to the cash component of the portfolio.

NEW POSITION TAKEN 02/14/03

Case Resources
T-CAZ
4000 Shares @ $ 0.70/Share
Total Invested $2,600.00
caser.ca

Had every intention to buy shares in this company quite a few months back in time. I missed the boat earlier - but still feel this is a good point to establish a position. Proven management has the company going in the right direction - very quickly.

INCREASED POSITIONS TAKEN 02/14/03

Canscot Resources
C-CAG
700 Shares @ $ 1.46
Total Invested $1,022.00
canscot.com

Small steady producer with emphasis on coalbed methane properties. You will hear more of companies initiating plans to pursue these type properties. EnCana has already announced, via presentations, that they feel this is a high growth area of operations.

High Point Resources
C-HPR
833 Shares @ $ 1.60
Total Invested $1,332.80
highpointres.com

Expect company to average 3000 boe/d this year and to exit at a much higher rate. One year ago they had production amounting to 14 boe/d. A well managed company with a foothold in NE BC - the start of good things to come.

Rocky Mountain Energy
C-RME
400 Shares @ $ 4.30
Total Invested $1,720.00
rockymountainenergycorp.com

Anticipate solid growth in 2003. I love the fact that the company has only (roughly) 7 million shares outstanding.

Terraquest Energy
T-TRQ
2500 Shares @ $ 0.35
Total Invested $875.00
trq.ca

Shares have slid on this company. There is absolutely nothing wrong with fundamentals behind their operations. I thought this was a great opportunity to cost average to a lower per share investment.
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