Gateway Energy(GNRG) Message Board

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Gold/Mining/Energy : Gateway Energy(GNRG)

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To: CLK who wrote (14)	9/27/1997 9:04:00 AM
From: Bobby Yellin	of 77

Hi- got another fax from Gateway Energy...I might buy more if I can figure out what to sell..it is selling at its book value of .84 cents..the obv looks bullish.....I don't know when the stock might start moving..it might take time since currently it doesn't show up on most systems...it was registered under the shell's type of business rather than under pipeline transmission etc...I think that will be fixed shortly and then it will show up on some screens...also because it is trading under ten dollars..under five dollars..under one dollar a lot of institutions probably won't touch it..even though it sounds as if it has its house in order and is in the right industry(there have been lately takeovers in natural gas industry) it has eliminated its dividend payments(about 2.2 million dollars per year) through a restructuring and increased its borrowing capacity by reducing its debt to capital ration from 70 percent to 15 percent which I guess is a lot lower than most other companies(I could be wrong but that does sound low) and has 3.5 million in cash currently I think... more and more companies are turning to natural gas and I think the average US citizen is getting more and more concerned with breathing problems etc..cancer etc ... hope you or somebody else out there can point out some negatives.. bobby

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