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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: twocents who wrote (4889)4/6/1998 8:41:00 AM
From: Kerm Yerman  Read Replies (2) of 24916
 
twocents / Gulfstrream Resources

This was one of my favorite investments of a year ago. But events contributing to the decline in share price discouraged me to the point where I terminated holdings.

Background can be summed up with reference to newswire.ca

ARCO, who is the operator of Gulfstreams Qatar property, cast a shadow on further potential of their reserves. Gulfstream disagrees with comments made by a representitive of ARCO. But the damage was done and there is a shadow of doubt now cast over Gulfstream. In addition, Gulfstream/partners submitted a full field development plan to Qatar for the Al-Rayyan field and to my knowledge has yet to be approved.

I would suggest that you might want to check out ARCO information and their plans for Qatar before you decide to invest into the company. One large factor to consider is Gulfstream management - which is excellent.

I have focused my attention on the international front (Canadian company with 100% interest in the international arena) has been Carmanah Resources. This is a company who has valuable offshore acreage but has had major hangup's in securing rigs to drill on their acreage blocks. For the most part, these delays are now behind them. Shares in the company have been performed well over the past month.
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