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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: elcasmirb who wrote (4507)	9/7/1999 12:22:00 PM
From: RIK	Read Replies (1) \| Respond to of 15703

Barron's says Richland looks undervalued Richland Petroleum Corp Shares issued 22,141,423 1999-09-03 close $4.45 Tuesday Sep 7 1999 Barron's weekly says in its Sept. 6 issue that Richland Petroleum, recently $4.40, is a top stock pick of international fund manager Harold Sharon. Writer Peter Du Bois notes that Mr. Sharon is head of the international equity team at Warburg Pincus Funds, where he runs the research department and co-manages two portfolios. One, Warburg's International Small Company fund, is ranked the leader among diversified international funds, in the year to date and the past 12 months, by Lipper Analytical. Mr. Sharon says that Richland and its partners do not know how big the East Lost Hills gas reservoir is, but some rough estimates suggest one to 10 trillion cubic feet. Just based on current production, he says the stock could hit $6.50 in 12 to 18 months, on cash flow of $1.10 per share in 2000. He says that if East Lost Hills contains one tcf, it could be worth $2 a share to Richland, and at 10 tcf, it would add $20 to the stock. Mr. Sharon says that Richland's potential leverage is high, but he is not counting on it, as the company is well diversified. (c) Copyright 1999 Canjex Publishing Ltd.