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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Bobby Yellin who wrote (4296)	12/8/1997 12:06:00 PM
From: Kerm Yerman	Read Replies (4) of 24904

Bobby / Upton Resources Upton shares are a great buy in $4.00 range. Here's recent comments I made. Upton still has high impact acreage left from the Shell deal, but at this time -- I don't see it being a factor in their share price potential over the near term. The company has refocused their drilling plays to involve their bread and butter properties and will benefit with growth from these areas. Accumilating shares under $4.00 should present you an attractive return on investment over the coming 12 month period. 1998 cash flow will be around the $1.75 to $2.00 area. Looking at a multiple of 6.0X, we're looking at a $10.00 to $12.00 stock 12 to 15 months out in time. Whether the company can obtain this ratio may be questionable, but you're still looking at a double in a years time based upon the current share price.

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