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

To: mike smith who wrote (6735)	8/18/1999 5:16:00 PM
From: johnlag	Respond to of 24920

Mike Smith / Calahoo I understand CLX's NAV is over $3 a share. Nice long term hold. I was a shareholder, but now am completely undiversified into the East Lost Hills play. Good luck to you, John

To: mike smith who wrote (6735)	8/18/1999 6:26:00 PM
From: Goldberry	Respond to of 24920

Thanks Mike. I will take a look at Founders and check out oilsp.com. Have a good stake in Calahoo already along with Compton. CMT really took of today with release of 2nd Qtr results.

To: mike smith who wrote (6735)	8/18/1999 9:17:00 PM
From: Buckey	Respond to of 24920

MIke - Gas leveregaed - I cannot agree more - Take the OPEC influenec out of the equation and stabilize your exposure - 100% agreed

To: mike smith who wrote (6735)	8/27/1999 1:24:00 AM
From: Richard Saunders	Read Replies (5) \| Respond to of 24920

mike/anyone - GAS to OIL Conversion. Beware of Fruit!!!! During the recent flurry of qtrly. releases I've noticed a few Canadian companies are using some apples instead of oranges when referring to barrel of oil equivalents BOEs. Calvalley's release today mentioned 6Mcf of natural gas the equivalent of a barrel of crude. I believe Chieftan also used the 6:1 conversion however much of their production originates south of 49. Traditionlly the conversion used is 10Mcf of gas is equivalent to 1 barrel of oil and most reserve estimates make such references. U.S. companies generally use the 6-to-1 conversion. Historically it would appear that Canadian gas prices have a "closer" economic equivalency using the 10-to-1 conversion however with Canadian gas pricing becoming closer aligned with u.s. pricing maybe more companies will want to polish the apple and use the 6-to-1 conversion? Just another thing to possibly be watching for when comparing companies?........... Comments anyone?