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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Obelix who wrote (5563)	11/10/1998 5:28:00 PM
From: Kerm Yerman	Read Replies (2) of 24891

Obelix / Poco Petroleums & Newport Petroleum Both are very good companies with heavy exposure to natural gas. Newport use to be at the top of my list of holdings, but stumbled a bit with the acquisition of Cimmaron. Poco remains on everybodys list to buy or accumulate. I like both companies at the present. Poco Petroleums $14.40/Oct 10 1998 (capsule comment) With the acquisition of Pan East Petroleum, most feel 1999 CFPS will be in the $2.75 neighborhood and $3.10 for 2000. My 1999 production estimates are 43,500 bbl's/d and 575 mmcf/d. My 12-month price target is $18.60. Poco just recently released their 9-month report. Newport Petroleum $6.00/Oct 10, 1998 (capsule comment) Newport is an excellent explorer with many high impact plays. I see 1999 CFPS in the $1.20 vicinity and $1.45 for year 2000. My estimate 1999 natural gas production is 198 mmcf/d and another 8,000 bbl's/d of natural gas liquids and crude. My 12-month price target is $8.75 Of the two companies, Newport offers better upside movement over the coming 12 months. I would be a buyer on any weakness in shares from the current price.

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