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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (68)8/23/1996 3:54:00 AM
From: Kerm Yerman   of 24935
 
TOP TWENTY SELECTION UPDATE
REFERENCE MESSAGE #68

Blue Range Resource Corp.
Stock Market: Toronto
Stock Symbol: BBR.A
August 23, 1996

Michael Stanley heads the equity team of Toronto's Jones Heward
Investment Management Inc. Jones Heward has merged with the Bank
of Montreal and manages the banks First Canadian Growth Fund which
has an orientation toward big-cap stocks.

Although focus is on big-cap stocks, Stanley has been buying some
smaller-caps also. His growth pick is Blue Range Resource Corp.,
which recently closed at $10.20 and has a 52-week trading range
of $13.88 to $8.50.

Blue Range is geared primarily to natural gas. Stanley said the choice is
not based on energy prices. Rather, the stock is cheap based upon
its net asset value of approximately $9.00. He is forecasting cash flow per
share for the company of $1.80 for the fiscal year ending March 31, 1997 and $2.30 per share for fiscal 1998.

The above information was extracted from an article appearing in
today's Financial Post.

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