TOP TWENTY BULLETIN
LISTING REVISION
AUGUST 24, 1996
Delete: Alberta Energy Co. Ltd.
Stockmarket: Toronto
Stock Symbol: AEC
Share Price: $25.20
Add: Elk Point Resources Inc.
Stockmarket: Alberta
Stock Symbol: ELK
Share Price: $6.35
Wanted originally to list this company but decided to provide a few large-cap companies to generate a broader interest. However, after seeing current financial and operating report of Elk Resources which was much stronger than I anticipated, I have decided to focus on larger growth potential in terms of greater return on investment. Do not interpet Alberta Energy as a sell situation for it is still a great operation. It's just a situation of limiting my selections to only twenty companies.
Elk Point has just 9.87mil shares outstanding as a result of a recent reverse split (1 to 4). For six months ending 6/30/95, the company was only producing an average of 68 bbl's of oil & gas liquids daily. For the same period this year, they averaged 626 bbl's/d. (almost 10X) Just recently, production has zoomed to over 3,000 bbl's daily. They have increased their 1996 operating budget substantially, from $11.2 mil to $19.0 mil as a result of their drilling successes. I will be reporting specific information in regards to cash flow projections, land position, later half of 1996 drilling plans and etc.. But, for now, I just wanted to bring an explosive growth situation to your attention. Coverage of Elk Resources commences @ $6.35/share.
Go to cdn-news.com
for their six months ending June 30, 1996 financial and operating report. |
