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Gold/Mining/Energy : Anvil Resources (V.ANV)
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To: Peter who wrote (1805)8/15/1998 12:07:00 PM
From: SAM-DAN  Read Replies (3) of 2214
 
An interesting article in today's paper reports that Renaisance Energy Inc. is hoping to sell gas assets producing 100mcft a day worth between 400-500 million dollars CND [ what's a 100 million between friends]. Anvil's Texas play should easily exceed 100 mcft per day once fully developed if we make the assumption that the First Target well's flow rate approaches 10 mcft.and it will have at least 3 offset wells and the field can support 10 Target wells plus off-set wells.Of course there is the cost of establishing the field, but Anvil will receive 125% of those costs repaid.Also Anvil's interest could drop to 53% if the land holder picks up their option.BUT the second parcel of land does not have that option provision.So at a minimum , assuming Anvil will have 20 million shares outstanding, and that the price of natural gas remains at its depressed price, Anvil's holding on this initial parcel of land alone should be between $10-12.00 Cdn a share without all the potential of their other holdings in the Texas area or any of their other holdings { including Voisey Bay].A very low projected value ,in our opinion but something to use as a guideline in evaluating the stock.The market ,as usual ,will make its own valuation and we will have to live with it.As shown by Yorkton's ability to pressure the stock price down in the last half hour of trading on Friday.
Well Capitain, shall we pull those oars on Monday or wait until NR is issued by Anvil.We may be able to use a power boat engine to move at the right speed ,once this flow rate result is announced.
Good luck to all.
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