MARKET ACTIVITY/TRADING NOTES FOR DAY ENDING MONDAY, FEBRUARY 9, 1998 (3)
INDEXES
The Toronto Stock Exchange 300 Composite Index fell 0.0% or just 0.27 to 6846.86.
In comparison, the Oil & Gas Composite Index fell 0.8% or 52.48 to 6354.49. Among the sub-components, the Integrated Oil's fell 0.6% or 49.86 to 8853.60. The Oil & Gas Producers fell 0.9% or 52.51 to 5564.43. The Oil & Gas Services fell 0.8% or 22.38 to 2752.19.
INDEX CHARTS
TSE 300.......... canoe.quote.com
O&G Composite. chart.canada-stockwatch.com
Integrated Oil's.... chart.canada-stockwatch.com
O&G Producers.. chart.canada-stockwatch.com
O&G Services..... chart.canada-stockwatch.com
NEW PHLX OIL SERVICE SECTOR
bigcharts.com.
lonestar.texas.net
HOT STOCKS
HEGCO Canada Inc. (HEG/ASE) again was the volume leader on the ASE, closing up $0.19 to $3.10 on volume of 900,465 shares. Green River Petroleum (GRP/ASE) also continued its torrid trading volume, closing up $0.15 to $1.35 on volume of 882,414 shares.
MOST ACTIVES
Gulf Canada Resources, Rio Alto Exploration, Norcen Energy Resources, Anderson Exploration, Abacan Resources, Northstar Energy, Poco Petroleums, Renaissance Energy and Petro-Canada were among the top 50 most active issues on the TSE.
Seven Seas Pertroleum gained $0.85 to $17.85, Ram Petroleum $0.53 to $1.45 and Abacan Resources $0.50 to $3.55.
Percentage gainers included Ram Petroleum 57.6% to $1.45, Renata Resources $17.2% to $1.50, Southward Energy 16.8% to $1.25, Abacan Resources 16.4% to $3.55, International Rochester 9.4% to $1.74, Black Rock Ventures 8.0% to $1.35, First Calgary Petroleums 5.0% to $1.05, Seven Seas Petroleum 5.0% to $17.85 and Profco Resources 4.8% to $1.10.
On the downside, PanCanadian Petroleum fell $1.25 to $21.65, Chieftain International $1.00 to $29.25, Tri Link Resources $1.00 to $16.00, Canadian Occidental Petroleum $0.90 to $28.90, Pacalta Resources $0.70 to $9.45 and Gulf Canada Resources $0.60 to $7.60.
Percentage losers included Canrise Resources 8.4% to $4.90, Pan East Petroleum 7.9% to $1.75, Petromet Resources 7.4% to $3.15, Gulf Canada Resources $7.3% to $7.60, Crown Joule Exploration 7.1% to $1.30, Pacalta Resources 6.9% to $9.45, Bellator Exploration 6.2% to $1.36 and Tri Link Resources 5.9% to $16.00.
Bonavista Petroleum reached a new 52-week high.
Numac Energy and Pinnacle Resources reached new 52-week lows.
Service companies were not represented among the top 50 most active issues on the TSE.
IPSCO gaained $2.20 to $61.15 and Enerflex Systems $0.75 to $35.75.
Enerchem International gained 5.6% to $1.88.
On the downside, ATCO II fell $0.75 to $37.00
Percentage losers included Alpine Oil 7.7% to $1.20, Bromley Marr 7.7% to $1.20 and Petro Well Energy 5.6% to $1.18.
There were no 52-week highs or lows.
Over on the Alberta Stock Exchange, HEGCO Canada, Green River Petroleum, Bearcat Explorations, Stampede Oils, Raptor Capital, EMR Microwave, Cirque Energy, Dalton Resources, Colt Energy, Brigadier Energy, Jerez Energy, Red Sea Oil and Gold Star Energy were among the top 30 most active traded issues.
Avid Oil & Gas B gained $0.70 to $1.00, Hawk Oil A $0.34 to $1.09, Derrick Energy $0.25 to $1.45, Clayoquot Resources $0.19 to $0.99, HEGCO Canada $0.19 to $3.10, Green River Petroleum $0.15 to $1.35, Meota Resources $0.15 to $1.25, Red Sea Oil $0.15 to $3.45, Gronarctic Resources $0.14 to $0.55, Real Resources $0.11 to $0.84, Syner-Seismic Tech $0.11 to $1.83 and Colony Energy $0.10 to $1.70.
Percentage gainers included Avid Oil & Gas B 233.3% to $1.00, Wild Horse Resources 45.5% to $0.32, Hawk Oil A 45.3% to $1.09, Gronarctic Resources 34.1% to $0.55, Clayoquot Resources 23.8% to $0.99, Derrick Energy 20.8% to $1.45, Ironwood Petroleum 15.2% to $0.28, Real Resources 15.2% to $0.84, Alta Pacific 13.9% to $0.41, Meota Resources 13.6% to $1.25 and Green River Petroleum 12.5% to $1.35.
On the downside, Lodestar Energy fell $0.35 to $2.00, Granger Energy $0.25 to $1.05, Avid Oil & Gas A $0.20 to $0.20, Cypress Energy $0.20 to $5.05, Global Link Resources $0.15 to $1.00, Kensington Energy $0.15 to $0.90, Niko Resources $0.15 to $4.45, CanBaikal Resources $0.11 to $1.30, Airgen $0.10 to $0.60, Petro-Reef Resources $0.10 to $0.64 and Q Energy $0.10 to $0.20.
Percentage losers included Q Energy 33.3% to $0.20, OTATCO 20.7% to $0.23, Zorin Exploration 20.0% to $0.20, Granger Energy 19.2% to $1.05, Blue Power Energy 16.0% to $0.21, Stampede Oils 15.2% to $0.28, Lodestar Energy 14.9% to $2.00, Airgen 14.3% to $0.60, Avid Oil & Gas A 14.3% to $1.20, Kensington Energy 14.3% to $0.90, Petrro-Reef Resources 13.5% to $0.64 and Global Link Resources 13.0% to $1.00
Avid Oil & Gas B, Green River Petroleum and HEGCO Canada reached new 52-week highs.
Blackpool Exploration, Blue Power Energy, Circle Energy, Kensington Energy and Q Energy reached new 52-weel lows.
Kerm's listed Companies are in bold print.
An excellent summary of most actives covering all four of the Canadian Stock Exchanges can be found at quote.yahoo.com
KERM'S TOP 21 - SPEC 15 - SERV 9 COMPANIES IN THE NEWS
Tetonka Drilling Inc. (TDI/TSE) announces that effective today, it has appointed Hugh W. Strain as its Chairman of the Board and Chief Executive Officer. Mr. Strain has also been appointed as a director of Tetonka. Hugh (45) is a graduate of the University of Alberta with a BSc in Mechanical Engineering. As well, he has completed the Executive Development Training program at University of Calgary and the Advanced Management Skills program at the Mahler Institute of Fair Lawn, New Jersey. He has been a senior executive in the North American Contract Drilling Industry for the last 17 years, and involved in the industry for 27 years.
Elson McDougald has resigned as Chairman of the Board and Chief Executive Officer but will remain a director of Tetonka.
KERM'S WATCHLIST OF COMPANIES IN THE NEWS
J.P. Bryan, the controversial, tough-talking Texan who orchestrated a financial turnaround at moribund Gulf Canada Resources Ltd., is riding off into the sunset.
Bryan is leaving the company to pursue his own financial interests and spend more time on his private life, the company said in a release today.
Earl Joudrie, the celebrated corporate troubleshooter and Gulf board member largely credited for luring Bryan to Canada, thanked him for his work over the last three years.
"We wish J.P. well and the Board extends their gratitude to J.P. for playing an important role in the exciting turnaround at Gulf Canada," said Joudrie. Dick Auchinleck, a 22-year veteran of the company and Gulf's chief operating officer, has been named as Bryan's successor.
"I know Dick has the talent and skills to take Gulf to the next plateau of accomplishment," Bryan said in a statement. "Gulf remains in strong leadership hands."
Shortly after taking the company over in 1995, Bryan oversaw a dramatic corporate restructuring that began with drastic job and cost cuts and ended in a multi-billion dollar takeover spree.
But he became best known in Canada as a blunt opponent of separatist forces in Quebec after suggesting during a speech in June 1996 that Quebecers opposed to staying in Canada should be shipped back to France.
With his trademark suspenders, flamboyant neckties and shoot from the lip San Antonio style, Bryan caused a stir in the U.K. in 1996 with a successful hostile bid for Clyde Petroleum PLC worth more than $1.5 billion.
Gulf also acquired Stampeder Exploration Ltd. last year for about $1 billion after it was thwarted in its efforts to take over heavy oil pioneer CS Resources Ltd., which instead went to PanCanadian Petroleum Ltd., the energy unit of Canadian Pacific Ltd.
Gulf made its first profit since 1989 under Bryan's leadership, earning $37 million in 1996.
During the battle for CS Resources, Bryan unveiled his master plan for Gulf: a hub-and-spoke system that would divide the company's various corporate and production divisions into separate, independent entities.
That led to more Alberta eyebrows being raised when Bryan decided to pack up Gulf's corporate headquarters in Calgary and set up camp in Denver, Colo.
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