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

To: Richard Saunders who wrote (7017)	1/4/2000 3:46:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 24920

RTA - Renata... Any news?Up 44% today on heavy volume.Veteran Resources up 15%.Hope it has something to do with their NEBC properties.Should move Tusk also if it is related to any activity in that area. Richard

To: Richard Saunders who wrote (7017)	2/4/2000 7:41:00 PM
From: kingfisher	Respond to of 24920

I have an update on Gauntlet Energy.Company probably will report between .40 to .45 cents per share cash flow fully diluted for fiscal 99.Currently producing 1100 boe mostly gas,selling everything on the spot market with no hedges.They will soon tie in an oil well at Sturgeon lake production tested at 500 barrels a day.They have a 42% interest in this well.Expect 100 to 150 barrels net to Gauntlet when tied in.Cash flow from this well with oil at $US28 impressive considering well costs to Gauntlet of $225,000.Very active drilling program continuing.Focusing on gas targets low risk 100% interest with expectations of 500 mcf up to 2 million mcf a day per well.Shares at .80 cents less than 2 times current annualized cash flow. Dispute with Circle Energy going to court in October.Based on my understanding of this conflict odds are in favor of Gauntlet winning this case.