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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (171)	9/5/1996 7:53:00 AM
From: Kerm Yerman	of 24905

TOP TWENTY SELECTION UPDATE REF: MESSAGE # 68 Sprott Securities Buy and Sell September 5, 1996 Eric Sprott, president of Toronto-based Sprott Securities Ltd., is bullish on Canadian equities. "The confluence of a number of factors--a decline in domestic interest rates, progress in government deficit reduction and the current account surplus on Canada's balance of payments---is good news for Canadian stocks," he said. In the energy sector, Sprott's co-director of research Marko Pencak particularly likes 5 Junior Oils. Vermilion Resources Ltd. .....................VRM/TSE $ 1.67..... ($ 1.80--$ 1.25) Upton Resources Inc. ...........................URC/TSE $ 5.90...... ($ 6.00--$ 2.90) Berkley Petroleum Corp. .......................BKP/TSE $24.30..... ($25.40--$ 4.20) Canadian Conquest Exploration Inc. ..CCN/TSE $ 1.90...... ($ 1.97--$0 .61) Courage Energy Inc. .............................CEO/TSE $ 1.75....... ($ 2.10--$ 0.91) "The five Junior Oil's have excellent cash flows, substantial growth prospects and are building net asset value quickly," Sprott said. At the current time, Upton and Vermilion are listed in the Top Twenty Oil&Gas Exploration and Production Companies listed at this site. Also on the recommended list is oil services company Tesco Corp (REO/TSE) $14.70 ($15.20--$2.55). The Calgary based company designs and manufactures portable top-drive hydraulic drilling systems. It is also working on an electric version of the product and a product designed for the redrilling of a well. "The stock has made a big move already, but there is still more to go." Sprott said. The company earned $0.37/share for year ending February 28 and Sprott is looking at $0.68 for fiscal 1997 and, $1.15 for 1998-----and "that is without factoring in the new products in the pipeline," Sprott said. Tesco has also made inroads in providing casing drilling technology and underbalanced drilling technology. Both enable drillers to increase oil recovery from a well.

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