CURLEW LAKE RESOURCES (CWQ-VSE) Message Board

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Gold/Mining/Energy : CURLEW LAKE RESOURCES (CWQ-VSE)

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To: Kevin Vickers who wrote (258)	4/20/1998 9:18:00 PM
From: Dale Schwartzenhauer	of 701

The opportunity to buy low is still available, despite the news from Turner Valley. If you notice, there hasn't been a Curlew version yet, but I'm sure it's coming. Based on the 600 BCF of gas announced, CWQ could be worth about C$0.90 (600 million MCF's x $1/MCF x 2.2% /21 million shares/0.685 exch rate). CWQ's interest is higher on BKP farmouts, so this could be conservative. This also doesn't count oil or condensates, which figures to be a big number. I like CWQ at these (C$0.15) prices as we get the Forum, Cochise, Bacon Island, Chestermere, and Greypower waterflood projects for free. The market will begin to value these projects somewhere along the line, and they offer a defensive fallback to the Turner Valley in any case. A better resource market in general would also generate some value attributable to these other holdings. So it's Win-Win for the long-term investor, IMHO. Dale

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