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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Glen McGlaughlin who wrote (2033)	1/18/1997 6:48:00 PM
From: Kerm Yerman	of 24925

Glenn / Cavell Energy & Carmanah In mid December, Cavall released 9 month figures which were not all that bad. IPO was at $2.85. Just about all the growth as reported in yhe 9 month report was built into the offering price. So, the share price has moved up based solely on the SE Sakatchewan and North Dakota anticipated successes as Berkley has experienced. Let me first say, not all companies have been successful in the Midale Red River Formation play. Point just taken to indicate nothing is on automatic pilot. At the time of the 9mo report release, the company noted that the first well had been completed and placed on production. They were in the process of drilling the second well. Further, 2 more wells were to be drilled prior to spring breakup. Why didn't they announce what the initial well tested at and what is the actual production since tied in. If the well was high producing, I'm sure they would have indicated so. So, my advice to you is to call the company and ask actual status of the initial two wells. Do not rely on word from a friend or broker in regards to "potential". Find out what is actually going on. While you're at it, ask about the capital budget for 1997 and forecast resulting from these plans. Ask to receive copies of any analyst research reports on the company also. If you do contact the company, feel free to give them my name and address for sending same materials to me. This way, we can discuss the company together upon receipt of materials. (My address and info can be found just by clicking on my name in the heading of any posting). Regarding Carmanah. Materials are in mail to me as we speak. This I what i can tell you now, everybody is recommending purchase of shares. I'll comment when I receive the information. Also, there has been a couple of postings this week about the company at this site.

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