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Gold/Mining/Energy : Tusk Energy (TKE)

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To: grayhairs who wrote (454)	5/14/1998 9:38:00 AM
From: teevee	Read Replies (1) of 1207

Hi Grayhairs, Re your comment "....private companies astute and fortunate enough...", there are more deals with more dollars involved done on the back of napkins at the petroleum club in Calgary than is underwritten on the VSE or ASE in a year. If I may repeat an often cited quote in the fair city of Calgary, "why would anyone take a profitable private company public? you'd have to be broke and/or stupid". The point I'm trying to make here is that private companies usually have much deeper pockets (ie. substantial production/cash and free cash flow) than small public junior oil and gas companies. Also, if the private companies "step up with their cheque books" take it as a very positive sign. The exceptions I have seen are in very strong oil and gas markets where sometimes a private producer (with about 1000 bpd equivelent) will merge with a small junior in order to take the assets and production public with strong market multiples. This can sometimes facilitate relatively cheap money for growth provide improved asset liquidity at higher prices. regards, teevee

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