WOLVERINE ENERGY (WVE.A) - Recommended in Buy Low, Sell Hi Message Board

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Gold/Mining/Energy : WOLVERINE ENERGY (WVE.A) - Recommended in Buy Low, Sell Hi

WVE 9.040

+8.9%

Oct 31 3:59 PM EST

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To: HAZ who wrote (15)	2/25/1998 2:26:00 AM
From: Chi-Chi	Read Replies (2) of 37

Haz, Wolverine hasn't really seen much movement either up or down since January so I don't know if we can say that a selloff is occurring. I understand the Company's reluctance to speculate at this point as the well is important for them. It may still be too early to read into things. I know nothing more than you do on this one. In regards to Draig, we looked at it a little while ago, after hearing you mention it, in fact, and were a little concerned with the fact that third quarter financials showed three quarter cash flow to be about 1/10 of bank debt. The latest release on their fourth quarter, however, is very encouraging as are the early results in 1998. We are going to watch this one closely as we see some potential for growth. We are also familiar with Trigas. This company has shown the potential for growth after some successful horizontal drilling at Irricana/Lone Pine. This one has been speculatively recommended by some major analysts, based primarily on expectations of further success on this play. Pan East had a disappointing year in 1997 as reflected by it's share price. It's Strachan North play was relatively successful and drilling was to continue into 1998. Has there been further success? I don't know that any such production would be on stream yet as a construction of a pipeline from the plant was scheduled for the third quarter of 1998. I don't know much of the present state of Canadian Conquest and will look into it. As for the takeover rumours you mention, our focus is on emerging and junior companies. We haven't looked into the validity or benefits of these takeover rumours and can't fairly comment. ESP

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