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Gold/Mining/Energy : VELVET EXPLORATION -- A GIFT FOR MAD MONK -- Ignore unavailable to you. Want to Upgrade?

To: Casey who wrote (499)	8/17/1999 1:21:00 PM
From: Tom McIlwain	Read Replies (2) \| Respond to of 579

Casey: That's odd. Last night I was able to use the link no problem. Today it doesn't seem to work. Anyway, the good stuff was quoted by Goldsnow. Re-action today in the O&G sector is not as strong as I was hoping for up to this point. Here's another link to the story, but it doesn't include the FirstEnergy observations. msnbc.com Tom

To: Casey who wrote (499)	8/17/1999 6:27:00 PM
From: goldsnow	Respond to of 579

Toronto's Oil & Gas Index at 20-month High on Takeover Optimism Toronto, Aug. 17 (Bloomberg) - The Toronto Stock Exchange's index of oil and gas producers soared to a 20-month high after U.S.-based Burlington Resources Inc. said it will buy Poco Petroleums Ltd. for US$2.5 billion, prompting optimism for more takeovers in the industry. The index of 48 oil and gas companies, which makes up 11 percent of the Toronto Stock Exchange 300 Composite index, rose as much as 2.2 percent to 6757.57. That's the highest since Dec. 10, 1997 when the index rose to 6817.10. Poco rose C$1.75 (US$1.17) to C$15.15 a share, in record trading of 46 million shares, which is about 47 times the six- month daily average in Toronto. Yesterday, Burlington offered to purchase Poco for stock and assumed debt, making it North America's fourth-largest producer of natural gas. ''This highlights the attractiveness of other gas stocks in Canada,'' said Gordon Higgins, vice-president of Canadian equities at Elliot & Page Ltd., which manages C$15 billion in assets. Petroleum producers are the No. 2 performing group on Toronto's benchmark index this year, climbing as investors bet the price of crude, which bounced back from a 12-year low of last December, will keep adding to companies profits. Oil for future delivery is trading close to a 22-month high on the New York Mercantile Exchange and natural gas prices are around a 20-month high. The oil and gas index, which includes Anderson Exploration, Alberta Energy Co. and Canadian Natural Resources Ltd., rose 45 percent so far this year. Anderson rose C$1.75 to C$21.75, AEC climbed C$1.50 to C$46.85 and Canadian Natural added C$1.05 to C$37.00. Today, the TSE 300 rose 9.85, or 0.1 percent, to 7055.50, with oil and gas companies contributing all the points to the advance. -------------------------------------------------------------------------------- quote.bloomberg.com

To: Casey who wrote (499)	8/21/1999 10:35:00 PM
From: goldsnow	Respond to of 579

For the next 18 to 24 months the fundamentals for the group look very strong," Segner says. The energy stocks in general will see a significant increase over last year. As long as oil is over $20 a barrel and gas is over $2.40, these companies should report some pretty big earnings surprises," he says. cbs.marketwatch.com

To: Casey who wrote (499)	8/23/1999 5:35:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 579

Natural Gas Talisman's offer is the second large takeover agreement involving a Canadian petroleum company in the past week. Last Monday Burlington Resources Inc. of Houston agreed to acquire Calgary's Poco Petroleums Ltd. for US$2.5 billion, to expand into Canada's most prolific natural-gas producing areas. Canadian natural gas is in demand as expanded pipelines to the U.S. market along with planned projects make it easier to reach consumers. Demand for gas is also rising as U.S. production falls. Prices, at a recent US$3.08 per million British thermal units in New York, are the highest since late 1997. ''This acquisition is all about Canadian gas and North Sea oil,'' said Jim Buckee, Talisman's chief executive. quote.bloomberg.com