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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: SofaSpud who wrote (539)10/17/1996 7:30:00 PM
From: Richard Saunders   of 24925
 
David/ BINGO........... you just nailed what it was for me that started my current oil services obsession. Approx. 11 months ago I was wondering about the environmental thing and how it was going to change the way companies have to do business. Now remember, I'm not a professional or expert by any means. Anyways, my wonderings focussed around what is beginning to appear (has since the early 90's) on the liability side of balance sheets - future reserves for abandonments. I wanted to know if the charges were realistic or if they were just an accountant's stab at some "funny money". One thing led to another and I still have a bunch of questions about the cleanup game but it would definately appear to be a growth industry. Maybe I'm spinning out in lulu-land but I feel there's opportunity for capital gain by focussing on some of the "clean-up players". Unfortunately (depending upon your perspective) many of the current operators are private "mom & pop" type shows who have kept a fairly competitve lid on profits from what I can determine. I do agree that it would appear "the times, they are a changin'" when it comes to environmental awareness in the oilpatch. Small companies with a major inventory of abandonments (primarily oil related) will have an increasingly tougher time (IMHO)..........
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