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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Alastair McIntosh who wrote (5656)12/4/1998 1:21:00 AM
From: Kerm Yerman  Read Replies (1) of 24927
 
Alastair / Remington Energy

You're correct, I was under the impression the hang-up was due to technical problems. Thanks for the clarification. I can now fully appreciate the primary reasoning behind the acquisition. They now control their destiny in their core area.

Jumping to another concern. The steep drop-off in share price has to have an impact on the proposed convertible debenture. The conversion factor would now involve a greater number of common shares if they proceed to seek $60mil in total.

Have you heard any whispers regarding unexpected production declines. I haven't, am just fishing. The steep falloff and potential reason does bother me.

Regarding debt. It is heavy. However, original projections for added production over the coming 12-15 month period should provide for adequate management of debt.

Speaking of production. I was looking for the company to average 6500 bbls/d of liquids this year. They are right on target of achieving that goal. It appears they will beat the target of 9500 bbl's/d that I was using for 1999 -- they are already producing that number.

I was using 115 mmcf/d as the average target for 1998. I think they will fall short of that number. Through nine months they have averaged 100 mmcf/d. I am unaware of what may come on stream in the fourth quarter. I am looking for 140 mmcf/d in 1999.

I was hoping the company would of provided an outlook for the fourth quarter. They didn't touch upon the subject. I am also anxious to learn a little detail of their 1999 CAPEX program.

Have you seen any analyst reports which updated a forecast with recent acquisitions factored.

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