BULLETIN / Kerm's Portfolio & Listing Revisions
On August 5th, I stated that I was going to focus on fewer companies.
(Ref. techstocks.com
Between the 5th and 7th of August, I chopped the #@&^)*&@ out of the
existing structure. In doing so, I took a serious financial hit on
the whole of the portfolio. Even though I continue to like most of
the companies I had previously listed, I came to the decision to drop
coverage on those that carried higher operations and financial risk.
In short, of the 48 listings prior to these transactions, 23 were
eliminated. I have added 3 new listed companies.
I eliminated dominant oil producers and companies with a high debt
load. Most service sector sector listed companies were also
eliminated for the longer term future of these firms appear bleak at
best.
Further to these changes, other changes were made this past Friday.
What results is a restructured portfolio with a long list of companies
whose shares are on the downside. However, I am also confident that
the current holdings will provide a sound financial base to provide a
good return over the longer term. Overall, I believe my portfolio
profit/loss is slightly in the red. Keep in mind as you review the
numbers, one can't determine overall progress performance for previous
transactions are not identified - just the status of my current
holdings. I won't really know of the overall status until I perform
the Accounting Report that I post periodically. I plan to update that
status in the very short term. I will also be consistent with weekly
progress reports and monthly portfolio reports.
The format to illustrate holdings has changed to reflect what I
identify as Level I and Level II Listings/Portfolios, determined with
the primary factor being market capitalization.
What follows is my list of changes which will bring one up to date
with my current holdings.
SALES TRANSACTIONS
__________________
FORMER TOP 20 LISTED HOLDINGS NOW ELIMINATED
Holding Shares Cost Sold @ Proceeds Expended
Canadian Occidental 200 $30.00 $26.00 $ 5,200.00
Carmanah Resources 360 $ 6.80 $ 0.90 $ 360.90
Pinnacle Resources 350 $17.22 $14.75 $ 5,162.00
Startech Energy 500 $ 5.90 $ 5.75 $ 2,875.00
FORMER SERVICE 10 HOLDINGS NOW ELIMINATED
Computalog 100 $18.00 $12.25 $ 1,225.00
Fracmaster 100 $21.50 $ 7.50 $ 750.00
Dreco Energy 50 $43.50 $25.00 $ 1,250.00
Mullen Transp. 100 $19.25 $17.50 $ 1,750.00
NQL Drilling 200 $11.00 $ 6.00 $ 1,200.00
Precision Drilling 50 $30.00 $21.75 $ 1,087.50
Ryan Energy 300 $ 9.00 $ 4.50 $ 1,350.00
Tesco Corp. 100 $22.40 $10.50 $ 1,050.00
FORMER SPECULATIVE 20 HOLDINGS NOW ELIMINATED
Big bear Explor. 1000 $ 2.90 $ 1.00 $ 1,000.00
CanBaikal Resources 1400 $ 1.80 $ 0.30 $ 420.00
Enerchem Int'l. 800 $ 3.50 $ 2.30 $ 1,840.00
Peak Energy 400 $ 6.80 $ 1.80 $ 720.00
Tetonka Drilling 1000 $ 2.40 $ 1.40 $ 1,400.00
Trican Well Service 400 $ 6.50 $ 3.65 $ 1,460.00
Wenzel Downhole 2000 $ 1.35 $ 1.30 $ 2,600.00
Richland Petroleum 1600 $ 3.57 $ 2.85 $ 4,560.00
Wolverine 2000 $ 1.10 $ 0.50 $ 1,000.00
PURCHASES
_________
Chieftain Int'l 300 $23.50 .................. $ 7,050.00*
Crestar Energy 1400 $16.40 .................. $19,950.00
Genesis Explor. 1000 $ 6.15 .................. $ 6,000.00
Highridge Explor. 1000 $ 3.50 .................. $ 3,500.00*
Petro-Canada 50 $18.80 .................. $ 940.00
Vermilion Res. 600 $ 5.40 .................. $ 3,240.00
SALES
_____
HOLDINGS SOLD THIS PAST FRIDAY 09/18/98
Upton Resources 1100 $ 3.94 $ 1.70 $ 1,870.00
Zargon Oil & Gas 1000 $ 2.70 $ 2.45 $ 2,700.00
PURCHASES
________
Berkley Petroleum 300 $ 9.00 ................... $ 2,700.00
Northrock Resources 100 $13.00 ................... $ 1,300.00
Remington Energy 100 $ 9.00 ................... $ 900.00
Talisman Energy 50 $31.25 ................... $ 1,562.50
Westminster Res. 100 $ 5.00 ................... $ 500.00
Cypress Energy 1000 $ 3.75 ................... $ 3,750.00*
__________ __________
$42,830.40 $50,392.50
* New Listings
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PORTFOLIO HOLDINGS SUMMARY REPORT FOR PERIOD ENDING SEPT. 18, 1998
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Current Holdings
For Week Ending 09/18/98
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LEVEL I - CURRENT LISTING / PORTFOLIO HOLDINGS
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Company Stock Purchase # Purchase Current Percent
Names Symbols Date Shares Price Price Gain/Loss
01. ANDERSON EXPLOR. T-AXL 073197 100 $17.60 $16.00 - 09.1%
ANDERSON EXPLOR. T-AXL 121697 100 $13.00 $16.00 + 23.1%
TOTAL/AVERAGE T-AXL 200 $15.30 $16.00 + 04.1%
02. BERKLEY PETROLEUM T-BKP 122497 200 $13.30 $ 9.00 - 32.3%
BERKLEY PETROLEUM T-BKP 032398 100 $14.10 $ 9.00 - 36.2%
BERKLEY PETROLEUM T-BKP 091898 300 $ 9.00 $ 9.00 00.0%
TOTAL/AVERAGE T-BKP 600 $11.28 $ 9.00 - 20.2%
03. CHIEFTAIN INT'L T-CID 080598 300 $23.50 $27.65 + 17.7%
04. CRESTAR ENERGY T-CRS 123096 100 $29.10 $14.25 - 51.0%
CRESTAR ENERGY T-CRS 121697 150 $20.00 $14.25 - 28.8%
CRESTAR ENERGY T-CRS 080598 1400 $16.40 $14.25 - 13.1%
TOTAL/AVERAGE T-CRS 1650 $17.50 $14.25 - 17.5%
05. NORTHROCK RES. T-NRK 122397 100 $21.75 $13.00 - 40.3%
NORTHROCK RES. T-NRK 091898 100 $13.00 $13.00 - 00.0%
TOTAL/AVERAGE T-NRK 200 $17.38 $13.00 - 25.2%
06. PARAMOUNT RES. T-POU 123096 300 $ 8.37 $12.30 + 47.0%
PARAMOUNT RES. T-POU 032398 200 $14.00 $12.30 - 12.1%
TOTAL/AVERAGE T-POU 500 $10.62 $12.30 + 15.8%
07. PENN WEST PETE T-PWT 052896 200 $ 8.40 $16.70 + 98.8%
08. PETRO-CANADA T-PCA 120597 100 $26.45 $19.20 - 27.4%
PETRO-CANADA T-PCA 121697 50 $24.90 $19.20 - 22.9%
PETRO-CANADA T-PCA 080598 50 $18.80 $19.20 + 01.1%
TOTAL/AVERAGE T-PCA 200 $24.40 $19.20 - 21.3%
09. POCO PETROLEUMS T-POC 060597 150 $14.85 $14.25 - 04.4%
POCO PETROLEUMS T-POC 121697 50 $10.90 $14.25 + 30.7%
TOTAL/AVERAGE T-POC 200 $13.86 $14.25 + 02.8%
10. PROBE EXPLORATION T-PRX 062298 1000 $ 4.75 $ 2.75 - 42.1%
11. REMINGTON ENERGY T-REL 120597 100 $23.00 $ 9.00 - 60.9%
REMINGTON ENERGY T-REL 091898 100 $ 9.00 $ 9.00 00.0%
TOTAL/AVERAGE T-REL 200 $16.00 $ 9.00 - 43.8%
12. RIO ALTO EXPLOR T-RAX 122397 200 $11.20 $16.00 + 42.9%
13. TALISMAN ENERGY T-TLM 052896 80 $31.10 $31.25 + 00.5%
TALISMAN ENERGY T-TLM 121697 20 $42.50 $31.25 - 26.5%
TALISMAN ENERGY T-TLM 032398 150 $44.00 $31.25 - 29.0%
TALISMAN ENERGY T-TLM 091898 50 $31.25 $31.25 00.0%
TOTAL/AVERAGE T-TLM 300 $38.33 $31.25 - 18.5%
14. ULSTER PETROLEUMS T-ULP 011797 300 $10.25 $11.70 + 14.1%
ULSTER PETROLEUMS T-ULP 032398 300 $11.85 $11.70 - 01.3%
TOTAL/AVERAGE T-ULP 600 $11.05 $11.70 + 05.9%
LEVEL II - CURRENT LISTING / PORTFOLIO HOLDINGS
-----------------------------------------------
Company Stock Purchase # Purchase Current Percent
Names Symbols Date Shares Price Price Gain/Loss
15. BONAVISTA PETE. T-BNP 032498 500 $ 5.70 $ 6.20 + 08.8%
16. COMPTON ENERGY T-CMT 110697 1500 $ 1.85 $ 1.50 - 18.9%
17. CYPRESS ENERGY T-CYZ.A 091898 1000 $ 3.75. $ 3.75 00.0%
18. GENESIS EXPLOR. T-GEX 052896 400 $ 2.65 $ 6.00 +126.4%
GENESIS EXPLOR. T-GEX 080598 1000 $ 6.15 $ 6.00 - 02.4%
TOTAL/AVERAGE T-GEX 1400 $ 5.15 $ 6.00 + 16.5%
19. HIGHRIDGE EXPLOR. T-HRE 080598 1000 $ 3.50 $ 3.45 - 01.4
20. PAN EAST PETE. T-PEC 111497 1200 $ 1.95 $ 1.57 - 19.5%
21. SPIRE ENERGY T-SEY 123096 1500 $ 1.60 $ 1.15 - 28.1%
SPIRE ENERGY T-SEY 032398 500 $ 1.70 $ 1.15 - 32.4%
TOTAL/AVERAGE T-SEY 2000 $ 1.63 $ 1.15 - 29.4%
22. TETHYS ENERGY T-TET 060597 1000 $ 1.88 $ 1.80 - 04.3%
TETHYS ENERGY T-TET 112797 1000 $ 2.60 $ 1.80 - 30.8%
TETHYS ENERGY T-TET 032398 500 $ 3.00 $ 1.80 - 40.0%
TOTAL/AVERAGE T-TET 2500 $ 2.39 $ 1.80 - 24.7%
23. THUNDER ENERGY T-THY 061197 2100 $ 1.64 $ 1.70 + 03.7%
THUNDER ENERGY T-THY 032398 500 $ 1.80 $ 1.70 - 05.6%
TOTAL/AVERAGE T-THY 2600 $ 1.67 $ 1.70 + 01.8%
24. VERMILION RES. T-VRM 052896 400 $ 1.40 $ 3.70 +164.3%
VERMILION RES. T-VRM 080598 600 $ 5.40 $ 3.70 - 31.5%
TOTAL/AVERAGE T-VRM 1000 $ 3.80 $ 3.70 - 02.6%
25. WESTMINSTER RES. T-WML 050398 500 $ 7.75 $ 5.00 - 35.5%
WESTMINSTER RES. T-WML 091898 100 $ 5.00 $ 5.00 00.0%
WESTMINSTER RES/ T-WML 600 $ 7.29 $ 5.00 - 31.4%
26. BADGER DAYLIGHT T-BAD 122397 400 $ 5.50 $ 6.60 + 20.0%
27. ENERFLEX SYSTEMS T-EFX 032398 100 $38.25 $25.15 - 34.2%
28. HYDUKE CAP. RES. A-HYD 091297 1400 $ 1.90 $ 1.50 - 21.1%
HYDUKE CAP. RES. A-HYD 032398 500 $ 1.80 $ 1.50 - 16.7%
TOTAL/AVERAGE A-HYD 1900 $ 1.87 $ 1.50 - 19.8%
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