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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Herb Duncan who wrote (881)11/9/1996 9:49:00 PM
From: Kerm Yerman   of 24935
 
Herb / Short Comments

Ranger Oil...........A quality holding. My wifes uncle in Montreal hates
this company. He says it has been a dead fish in water. Maybe it has
been, for shares have stayed low for years. However, I believe all back
history is just that, past information. I firmly believe they have been on
the right track of late.

Remington Energy.........Had followed this one closely for a while and
then lost interest. However, they are on a roll. With reserves and
production increases along with increasing organization ability, would
indicate to me there is good growth ahead for the company. Unlike
Ranger Oil, you must keep an eye on progress at all times.

Summit Resources........Has been one of the favorite followings of
major institutions over past 2-3 years. I think interest in the company
has substantially decreased. Based upon their latest financial and
operating report, this last quarter was good for them and a sign they
may be turning the corner in regards to earnings and cash flow. I
think not. I think they may be in a little trouble. They are not increasing
production. Earnings and cash flow have increased because of the
good commodity prices being enjoyed by all in the industry. Without
increase in production, you have to be concerned with their reserve
growth also. I have also seen signs that there may of been some
problems in key areas of their organization, not good. They may be
lucky to have problems occurring at this time for good commodity
pricing might allow them time to regroup.

Of the three companies you asked about, I would continue to hold
Ranger Oil and Remington Energy. Because of the positive stance
in the oil and gas sector, I would think of trading out of Summit and
into another quality junior oil experiencing growth in reserves and
production with land holdings to sustain such growth.

Herb, in closing I want to welcome you to this website. Those that
participate here enjoy the information flow and I hope you will find that
to be the case also.
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