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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Brennan Wilkie who wrote (6643)	7/14/1999 9:07:00 PM
From: kingfisher	Respond to of 24905

Brennan, One oil and gas stock to look into is Symmetry Resources trades on Toronto symbol SYO now at .85 cents. They are flowing almost 1900 boe with 30 million shares outstanding very low debt,and good drilling prospects including a potential of 170 billion cubic ft of possible gas reserves from a very technically challenging non-conventional coal seam methane project in Elk Valley British Columbia.Symmetry have a 100% interest in this project but need expertise in developing it.McDaniel & Associates were prepared to assign 50 billion cubic ft of probable reserves to this project but Symmetry management elected to exclude this volume from any reserve-based calculations due to the non-conventional nature of this potentially major resource, and the dramatic impact on reserves,finding costs and the reinvestment efficiency ratio. Best Regards, Richard P.S. I have no information as to why this resource is defined as unconventional.My best guess would be that this field would require dozens of shallow wells and require compression and other challenges that have not made this project a priority.