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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: The Fix who wrote (5426)	9/22/1998 2:53:00 AM
From: Kerm Yerman	Read Replies (1) of 24921

The Fix / Purcell Energy Purcell is an interesting speculation. I don't follow the company closely. From what I understand, they will be drilling a high impact well in January or February. I think the shares will react favorably once drilling commences or, shortly before. Probably sometime in December. If the well is successful, shares will continue to appreciate at a good rate of return. If unsuccessful, the buildup in share value that had taken place during the drilling period will be wiped out - and probably more beyond that. However, this is not just a single well play. As far as fundamentals behind investing in the company, I'm completely unfamiliar with them. This is basically an investment into their play and thus can be categorized as very speculative. One factor that makes this very interesting, there is proven substantial reserve potential in their drilling area. What I do in this particular scenario, is to wait for actual drilling results. I will miss the run-up in share value as investors speculate. However, if the play is successful - I will still have plenty of time to invest for the longer term and still realize superior gains over the short and intermediate term. The high risk element will have been eliminated Perhaps the guy to discuss the company with is Richard Saunders. He follows the companies becoming active in the NWT and just south into BC. As far as tax loss selling in Canada is concerned, I'm not really the guy to discuss the subject with. Perhaps David Peever can offer you some insight on the subject. Give him a try. If someone else has been in touch with Purcell Energy and can offer a current background on the company, I -for one, would be interested in hearing more of the company.

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