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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Kerm Yerman who wrote (2104)1/22/1997 1:08:00 PM
From: Kerm Yerman   of 24925
 
ALL / SEVENTH ENERGY LTD.

NEW KID ON THE STREET
Reference: KERM'S KORNER 01/21/97

January 22, 1997
Followup to Posting @ Kerm's Korner

Original KK Post;
My sixth sense tells me that this is a company to check into. It is a fairly new issue with
shares selling in the area of $2.15. What has caught my eye is the staffing early on in
their operations. This is normally a very positive sign. You've got to have, or anticipate,
good cash flow to support admin expenses.
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Talked with company this morning. Areas of interest are shaddow well areas of SE Saskatchewan, Central and East Alberta. Planning to start drilling end of this quarter, but is based upon rig availability. Has drilled one gas commitment well to date, status unknown -- I think they came up empty. Real operations commence with the drilling as I just mentioned. They are also looking for land to build inventory in acreage which now is a minimum (not much). They have money in the bank, good staffing and a very general game plan which in time will better be defined, pending upon results of early on activity. They are committing to exploration - rather than exploiting and developement.

Based upon the way the company was capitalized, shares appear to be extremely overvalued. I intend to monitor activities of the company and will follow up with contact around April 1st. This is a watch and see situation.
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