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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: RIK who wrote (4377)	1/3/1998 11:14:00 AM
From: HAZ	Read Replies (3) of 24900

RIK / Symmetry I called them today to get an update but their offices are closed until Monday Jan, 5th. I will call again on Monday and ask for an update on winter drilling program. The last time I talked to management their 1997 success rate at Dawson was 6 for 6 and the average size of these wells is between 150 - 400 BOE, so another 5 for 5 will have a material impact on reserves, NAV, and production for Symmetry. Also, there is the shut in oil that comes on stream on February 1st and that will increase 1st quarter averages. One final point, most of these wells are free flowing and don't require expensive pumping equipment, this keeps costs down. The initial well that Symmetry purchased has been flowing freely for the last 10 years at 100 BOE and it just keeps on going. If all the wells have similar statistics then these guys will be making money for many years to come. Cheers for now

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