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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Brian who wrote (4491)	1/14/1998 6:06:00 PM
From: Kerm Yerman	Read Replies (1) of 24928

Brian / Bitech Petroleum Another Hurricane Hydrocarbons? To be straight forward, I don't follow either company. I do keep an eye on Canbaikal Resources and Black Sea Energy. All four of these have the Old Russia connection. I do know this. Five months ago, a respected analyst forecasted 1997 cash flow at $0.19/share and 1998 cash flow of $0.65/share. This was based upon production estimates of 5,000 bbl's/d for 1997 and 14,250 bbl's/d for 1998. At the time, the company didn't have any debt. The company controlled their own destiny, no joint venture partners. I just jumped to Carlson's to check out the latest on the company. It would appear one can throw out the report I mentioned above. Bitech has hit a couple big oil producers which should enhance the picture for 1998. If you have any idea of their 1998 budgeting and forecast, I would like to hear from you.

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