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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Kerm Yerman who wrote (2119)1/23/1997 6:52:00 PM
From: SofaSpud   of 24921
 
Kerm / Newport

Morning market comment from Gordon Capital included a note on Kerm's favourite:

"OUTSTANDING PROSPECT INVENTORY

- Newport has achieved an outstanding growth record since its inception in 1993.
85% of the company's asset base currently in place was found vs. acquired.
Newport is a very exploration oriented company, with a staff of 11 geologists or
geophysicists out ot a total staff of 34. This is a very high percentage. We expect
this growth to continue in the foreseeable future due to the outstanding prospect
inventory in place.

- Newport plans to spend $75 million this year and potentially $100 million in 1998.
The company will dirll 75 wells this year. The challenge is to find the next "company makers",
to follow up on the George discovery. the George filedls contribute at least 80 bcf in net
recoverable reserves to Newport's asset base.

- Future "company making" prospects include Notikewan, on the Peace River
Arch, Wild River, in west central Alberta, and Gilby in central Alberta. The
company also has a plethora of other prospects in its four general regions
of operation.
- Newport has a strong balance sheet, with only $10 million in debt at this time.
We are estimating CFPS to grow form 75 cents in 1996 to $1.45 in 1997 and
$1.90 in 1998.
- We continue to recommend a BUY on Newport with a revised 12 month stock
price target of $12.50."
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