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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Boris Kuntz who wrote (411)	10/11/1996 10:34:00 AM
From: Kerm Yerman	of 24925

Boris / Carmanah Resources Sorry I took so long to get back to you. Carmanah chart looks strong. Shares have almost doubled since mid-August which is just about the date they released their six month financial and operating report. Apparently the public perceived the report in good light. Revenue and cash flow were way up since same time a year ago. One thing I did notice was revenue and cash flow decreased in 2nd quarter vs 1st quarter. Also noted slight reduction in production quarter to quarter. I didn't see an effective date for the sale of their Canadian properties, maybe that's reason for slight declines. Focus on this area when you see their 9mo. report. As I have mentioned many times, I shy away from international oil operations and as a result, don't really follow any in depth. However, I think highly of oil and gas exploration in Indonesia. Ryan Energy Technologies. Just saw where they raised a good chunk of capital. I'm not into the oil & services sector either. Good guys to discuss this sector with, would be Richard and David. I do know that a good measurement, to watch for guaging further growth in this company, would be weekly and monthly rig counts. Remington Energy. Had been watching them and lost tract in March. I would like to offer comment after I refresh my memory and checked their latest reports. Last I knew, they were presenting the company to financial analysts in Boston. They sent me an invitation.

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