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Gold/Mining/Energy : Newquest Energy-NQE.A:TSE-Emerging Oil Story
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To: barry doment who wrote (34)2/22/1999 3:58:00 PM
From: CIMA  Read Replies (1) of 37
 
Oil price cave-in and that plant deal they bought into. Apparently the plant changed hands three times and they could never tie their production in. When it was time to finally tie-in one of the bigger companies in the same field had cranked up their production bigtime in previous months, lowering the pressure and depleting recoverable reserves. The whole thing caved in on them. Their CFPS has dropped considerably and they don't have the $ for CAPX.
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