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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Lorne Larson who wrote (6028)	2/14/1999 2:11:00 AM
From: AL R	Read Replies (1) of 24893

Lorne / Numbers Having the damdest time getting anywhere on SI today. I thought I had some numbers for Canadian Rig. Couldn't find a break down for Gas and Oil rigs. I though bakerhughes had them. As the post Richard refers to, 60% of the rigs were drilling for gas as opposed to 60% drilling for oil last year. My take is that companies are focusing on gas. Programs have been cut, but mostly toward oil. AEC is trading at approx. 7.5 X cash flow (not cheap in this market)and loosing money (-$0.14 per share). Debt was close to 2 X cash flow (not bad). Sorry can't be of more help. Al

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