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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: TheMajor who wrote (4944)	4/14/1998 11:51:00 AM
From: SofaSpud	Read Replies (2) of 24921

The Major / Maxx "Perennial disappointment" is an accurate description. I've followed the stock for a while, and opened a position a little more than a year ago. Everything looked good on paper, and if they'd had the kind of success in Kansas that others had elsewhere, applying Western Canadian recovery technology to depleted fields, MXP could have had a heck of a bounce. As it was, Kansas results were OK but not spectacular, and oil prices really hurt a company with little exposure to gas. MXP has been a tremendous lesson for me. As someone who essentially takes a "value" approach, I haven't paid enough attention to momentum. MXP has so much inertia that heaven only knows what it will take to get it moving. Personally I think the company is great value at these prices, and I have no plans at present to dump my position. OTOH, I have an unusually long time horizon. It looks like I'm going to need it.

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