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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (198)	9/10/1996 7:08:00 AM
From: Kerm Yerman	of 24922

Cassels Blaike Investment Management Buy and Sell September 10, 1996 John Crocker, senior vice president and chief investment officer of Toronto's Cassels Blaike Investment Management, likes Canadian small caps producing strong earnings growth. He says "some of these stocks are not cheap." However, provided the companies deliver earnings, it will be reflected in share prices. Two of his choices are oil related. TESCO CORPORATION (TEO/TSE) $14.90 ($15.20--$2.60) The Calgary-based company designs and manufactures portable top-drive hydraulic drilling machines that enhance oil and gas drilling efficiency. It has had a period of strong earnings growth that should continue. It trades at 20X fiscal 1997 earnings estimate of $0.60 per share. BERKLEY PETROLEUM CORPORATION (BKP/TSE) $23.80 ($25.40--$4.25) The Calgary-based firm has been successful in its drilling in Southeast Saskatchewan and in Alberta. It has low finding costs and no debt. Crocker expects the company to produce cash flow per share of $1.85 for fiscal 1996 and $4.00 for fiscal 1997. "The stock is selling at a slight premium to the market but it has a superior growth growth rate," he said.

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