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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Diana R. Chambers who wrote (2168)	2/3/1997 1:10:00 PM
From: SofaSpud	of 24937

Diana / Imperial Oil Just came across a contrary opinion -- it was reproduced in Investor's Digest, attributed to "Positive Patterns", a newsletter out of Springfield Missouri, of all places: "The latest edition of this newsletter features a detailed buy recommendation on Imperial Oil, 66% owned by Exxon. IMO has U.S. $8-$9 a share in cash against a total debt of abour U.S. $4 a share. It trades at about seven times estimated 1997 cash flow per share of U.S. $7. 'That is dirt cheap, no matter where the Dow is. We also note that IMO has been a steady buyer of their shares, and one could fully expect that to continue for the foreseeable future. We are looking for major gains for IMO over the next three to five year period ..... The balance sheet sparkles with muscle ... and who could ask for a better parent?'" I'm afraid you're likely correct about a choppy year ahead. As far as clipped wings, I'd love to learn from your experience if you care to share any tales of woe.

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