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Gold/Mining/Energy : International Rochester Energy Corp. (T. ROH)
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To: MF who wrote (814)5/7/1999 7:34:00 AM
From: Ed Ajootian  Read Replies (2) of 934
 
MF,

Let's not forget about the notes. What was the amount of those, $5.5 mm? If so the book value is C$.53 a share. Then you gotta discount that a bit for the fact that the HEC stock is probably subject to a lockup provision for awhile.

The comment about getting into the Western Canada action perked my ears up. I believe Alberta gas is becoming one of the most economic plays out there right now. The finding costs have always been low; now with the new pipelines coming in, all pointed toward the high-demand areas of the US, there's someone to sell the gas to.

I'm definitely keeping this puppy up on the radar screen.
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