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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Kerm Yerman who wrote (757)10/31/1996 4:25:00 AM
From: Kerm Yerman   of 24925
 
CANADIAN OILPATCH / HOT STOCKS
Poco Petroleums Ltd. & Suncor Inc.
October 31, 1996

Poco Petroleums Ltd. (POC/TSE), up 65> to $12.65, on volume
of 1.9 million shares. The stock hit an intraday 52-week high of
$12.75 ahead of its earnings, released after the close yesterday.
In its third quarter, the oil and gas company earned 5> a share,
compared with 1> a year ago.

Suncor Inc. (SU/TSE) up 55> to $51.55 on volume of 1.24 million
shares. Suncor's stock has risen sharply in two days of active
trading. On Tuesday, Nesbitt Burns Inc. traded one block of one
million shares, and did the same with Suncor instalment receipts.
Yesterday Nesbitt repeated the whole process, but with a block of
1.15 million shares. Analysts said there was a large short position
with the receipts, that may have accounted for the increase.
Suncor has also been heavily touted as a takeover target for a
major U.S. oil and gas company.
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