As I mentioned, I will be writing the summary of Eco for Silicon Investor to be featured on the main page next week. I am going to try and talk with Mike McGinnis before I write it up. If any of you have links, info etc that you think I don't know about, feel free to e-mail me or post it here. I am going to try and finish by Sunday morning.
I also talked with Besim Halef yesterday. Those estimates of $100 to $150 mill in revs by 1999 I mentioned before were, as expected, Canadian dollars and before taxes. But he is expecting to achieve at least 30% margins. He is also looking for $75 mill revs in 1998 with at least 30% margins or $22.5 mill in earnings (Canadian, before tax), which would come to about $11 mill after tax, U.S. - which would be around 55 to 60 cents. So Eco needs to find only another 90 cents with the rest of the subs to make $1.50. I figure with about 20% growth on the rest of the subs, we are in the $1.40 range and I am expecting more from SRS. So, personally, it looks to me like $1.50 is in range despite full taxes even before added income from acquisitions.
Halef also mentioned that they have already started bidding on the next project after Sable which will be the Terra Nova fields to the north. I believe that ArtPhilly on AOL posted some great links regarding that development. There was also some debate regarding the possibility of the alternative direct to the U.S. pipeline. He said that the Canadian pipeline had been approved by all Federal, Provincial, and environmental groups and there was virtually no chance of them returning to consider the U.S. pipeline.
Not sure, what sort of reception this write up will get on SI. They say that SI as a whole is currently getting 100 million hits per month and that they are gearing up for 8 to 10 mill page views per day in January. Mark Johnson says their page usually gets about 20,000 hits. Probably the most readers of anything I've ever written. ;-)
Mark, those lines labeled *ask and *bid are not trades. They just mark changes to the bid or ask and show the current size of the bid and ask.
David |
