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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (663)	10/28/1996 2:53:00 AM
From: Richard Saunders	of 24925

Kerm/ thx for highlighting TKE news release........ 3Q numbers should be interesting. I've been away for a bit and just checked this site to see if there were any recent postings - approx. 60 new messages. Good to see a bunch of new participants........ There was one recent posting wondering about oil/gas mutual funds. SOUTHESK ENERGY (SEE on Alberta) is a closed-end fund. I don't have the current specs. on the fund or holdings but Frank McEachern (Oil Letter) is the fund's advisor. Net Asset Value of a closed end fund dealing with junior (possibly somewhat illiquid traders) & small cap. stocks can be a challenge when trying to calculate. (How to determine fair market value for a "larger" position? Do you use the price of the last trade, do you use the bid price, what price could the fund obtain if it tried to unload the total holdings in an illiquid trading stock, etc.......)

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