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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (4404)	1/6/1998 12:28:00 PM
From: AL R	Read Replies (2) of 24927

Kerm / Rig Count I did notice your original post with the rig count stats and have been meaning to query you. Surprised you haven't commented before now. A drop of 125 in such a short period. Can this be a statistical error? The number of rigs operating is still above last year's level at this time and the decrease in Canada is quite a disparity with what is happening else where. The weather in western Canada has been well above normal and I'm sure this has delayed several drilling programs. Ice on rivers and creeks has not been thick enough to cross with equipment and I doubt the muskegs are firm enough either. I did see program with an oil executive saying that they will have to use portable bridges to cross some areas and this will add a small cost to their drilling. This in itself does not seem to me reason to park 125 rigs suddenly. On the plus side, drilling should have been easier in accessible areas and temperatures have dropped back to more seasonable normals in the last week. Just finished posting this and noticed a new posting on KK which is positive concerning drilling activities. Message 3103576 On an other note. Prudential Steel (PTS-tse) Kerm, do you have any thoughts on Prudential Steel? The stock recently split 3 for 1 and has been in a down trend with steels and O&G. Seems to me, there are a number of wells to be tied in and more coming. PTS supplies small diameter pipe to the O&G industry. Take care, Al

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