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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (4297)	12/9/1997 10:28:00 AM
From: HAZ	Read Replies (2) of 24904

Kerm / Symmetry Kerm, I just received the Investors Digest and here are Wildcat Willie's comments on Symmetry. Symmetry is trading at just more than three times next year's cash flow and has 1700 boe/d production capacity with more than 1400 boe/d of production. Remember that the company has a piece of Amber's Springburn light oil play and the pool being jointly developed by these companies could be much bigger than expected. Willie doesn't expect fireworks here right away but sees this as a really cheap growth story. My comments. I agree wholehearted with Willie and I have already purchased shares in Symmetry. It has performed exceptionally during the recent turmoil and I expect it to start climbing from here. In the past there has been a correlation on a stock rising after it is featured by Wildcat Willie. Now the past is not always an indicator for the future and I'd expect some bumps in the road but in general this is a well managed company which has linked up with a bigger company (Amber ) and will reap the rewards. Another thought is that if this play is so good and I believe it is, then why wouldn't Amber just takeover Symmetry and get it all versus sharing their new found wealth with a junior company. I believe that this scenario may be one reason why Symmetry stock has held up so nicely during this correction, either smart money buying in or Amber picking up shares. Symmetry Management owns 12% of the shares and they have 24 months of drilling inventory at Dawson. The last time I called the company they had a 100% success rate 6/6 at Dawson so this play is looking really good. An don't forget that 300 boe/d comes on stream on 01-feb-98 and that should help cash flow in 1998. If you have time take another look at this one and let me know what you think. Cheers and good investing

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