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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (261)	9/30/1996 2:01:00 AM
From: Richard Saunders	of 24934

Nugas has a homepage at nugas.com Thanks for looking re: Westward - I just rec'd. the financial package and it looks as though the co. has been focussed on positioning on its Enchant, Alberta project. I noticed that netbacks for 6 months ended 06/96 for Westward were $13.61/barrel of oil. Company has hedged 9,000 barrels per month until end of '96 at $24.35 cdn which resulted in a hedging loss of $1.85/barrel on the netback. Production expenses are indicated at $4.27 for the 6 month period which averaged 572 bopd. There aren't any projections for production or cash flow for the remainder of the year....... I'm not aware of Deep Basin Petroleum but will have a look - thanks for the ideas.

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