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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Bearcatbob who wrote (5840)	1/11/1999 10:12:00 PM
From: Taff	Read Replies (2) of 24925

Hi Bob Yes down against published projections..... :( Not good, there plan was 15 to 17000 bbls per day now is estimated to be 13000. Cash flows are hit a little harder (20K plus per day). Leduc is making around 9000 BBls per day of light oil and around 30 million cu ft of gas a day. Cash flow would be assuming around a 8 to 9 dollar lifting fee on oil 5 x 13000 = around 60,000 for oil. Gas is around 2 bucks a thousand 2 x 30 million = 60,000 cast flow per day 120K not bad... Company drilled a little over 130 wells last year... heck everything looks good... Then there is Can Oxy in Yeman producing 220K per day with a lifting cost under a buck, with a 50/50 split same 5 bucks but multiplied by 110,000 BBLS... Black Gold Mine over there. Back in July PRX was worth 300 million today 75 million, who'd figure it would go this low. (My estimates only) My long term concern is well abandonment of the Esso Lands... Those costs will be very high in some cases, assuming Probe still owns the block(s). Probably the next block that Esso sells off will be the Red Water, same conditions apply there, well abandonment. That's about all I know Bob, hope it helps. I hear rumers ... brokers not happy... someday there won't be brokers to worry about we will all e-trade "don't mean to use a company name here. I use my bank discount brokering. I am thinking about putting in a wildcard bid of a 1.25 with a 30day open... who knows... it will bring my averages down to around 2.25 on PRX if 1.25 happens. Good luck Bob, and successful trades Regards John

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