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Gold/Mining/Energy : TYK (VSE) Tanganyika Oil -- Ignore unavailable to you. Want to Upgrade?

To: Arktic who wrote (260)	11/26/1999 2:20:00 PM
From: Greywolf	Respond to of 500

Thanks Paul, You have alleviated me from asking the same question. As far as faith keeping on this one well it had a dent a bit back but now you can call me a zealot.

To: Arktic who wrote (260)	11/30/1999 5:38:00 AM
From: Tomas	Read Replies (2) \| Respond to of 500

[OT] Low share prices ignite Canadian oils takeovers CALGARY, Nov 29 (Reuters) - A series of friendly takeovers in Canada's oil and gas sector on Monday pointed to widespread investor disenchantment with the sector despite bullish conditions in the industry, analysts said. Canadian Hunter Exploration Ltd. (Toronto:HTR.TO - news)., a high-flying natural gas producer, announced a C$48-million friendly takeover of cross-town rival Kintail Energy Inc. (Alberta:KTE.AL - news) Berkley Petroleum Corp. (Toronto:BKP.TO - news) offered 0.081 of its shares for each share of Symmetry Resources Inc. (quote from Yahoo! UK & Ireland: SETA.L). and Avid Oil & Gas Ltd. (Alberta:AVOa.AL - news) offered to exchange one of its shares for every 15 shares of Big Bear Exploration Ltd. (Toronto:BDX.TO - news). On Friday, Enermark Income Fund (Toronto:EIF_u.TO - news) said it had an agreement to acquire control of Western Star Exploration Ltd. (Toronto:WSX.TO - news) ``All of these small oil and gas companies are ridiculously cheap,' said Ken Faircloth, industry analyst in the Calgary office of Geopel McDermid Securities. ``Based on our cashflow outlook, all these deals are economic and we think it's a prelude to increased merger activity in the coming two quarters,' said Jeff Fiell, an analyst with Canaccord Capital Corp. The share prices of Canadian oil and gas companies have been dropping despite high commodity prices, low operating costs and a low Canadian dollar versus its U.S. counterpart. Analysts said there are several reasons for this: Investors don't believe oil will remain at its relatively high price of US$26 a barrel. Also, mutual fund managers don't have more money to spend on stocks because Canadians are contributing less to their retirement funds or are opting for higher returns from U.S. equities. Investors have also been dazzled by the returns being posted by some technology stocks and may consider oil and gas to be part of the ``old economy.' Finally, several high-profile failures in the oilpatch have made investors leery of the sector, the analysts said. One of the more damaging examples of that came on November 16, when Calgary-based Merit Energy Ltd. (Toronto:MEL.TO - news) revealed it had issued incorrect financial and production estimates from the first and second quarters. Its shares plunged 43 percent after it restated the previous quarter's profits as losses. ``We're still in a correction with these stocks,' said Faircloth. ``But I think we'll be moving out of it in the new year.' ($1=$1.47 Canadian) biz.yahoo.com