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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (2114)	1/22/1997 10:47:00 PM
From: Syncrude	of 24925

You can consult their web site at tusk-energy.com. I think that they are basically treading water. The fully diluted current cash flow on an annualized basis is $0.54 versus a price of 1.15 (TKE-Calgary). What may get things moving faster is the appointment of a Vice President Exploration to do some development and exploration work on newly acquired land (don't know where). TUSK currently produces 800 boepd, mainly light oil. It recently acquired additional interests in the Meekway area. There are 7.474 million shares outstanding FD and has $6.7 million in long term debt ( $4.0 million cash flow). Small base at the moment, but who knows, they may yet attract a larger following or merge/get bought out.

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