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

To: Bearcatbob who wrote (7124)	2/17/2000 7:39:00 AM
From: GVTucker	Read Replies (1) \| Respond to of 24921

If you're in that play, have you considered CMT? Similar valuation (<3x cash flow) and they're still expanding. The debt can scare the beejeezus out of me sometimes, but if they execute, it's a home run. Of course, if they don't execute, I get executed.

To: Bearcatbob who wrote (7124)	2/17/2000 10:25:00 AM
From: kingfisher	Respond to of 24921

Hi Bearcatbob, It was relayed to me that Petro Canada offered to buy Magin's 35% interest in the Copton field last fall for .60 cents per share for what is now only about 1/2 of their current acreage position there.They have a significant shallow gas discovery here. Anyhow I am putting my money where my mouth is and bought another 5000 shares today.(80,000 more to go.)<GGG> If the institutions want to continue bailing out of the oil and gas sector let them do so.Come this fall I am confident it will be a different story. Good Luck at East Lost hills. I am playing it with ELK. Have you heard anything about ELK's recent large discovery in west central Alberta partnered with AXL?

To: Bearcatbob who wrote (7124)	2/18/2000 7:12:00 PM
From: kingfisher	Read Replies (2) \| Respond to of 24921

Hey Bearcat! Good news from Magin. They just released their year end reserves.They have added 7.85 million of established reserves at a cost of $6.06 per established barrel.This cost excludes capital expenditures related to the Copton exploration project. They have announced a multi well drilling program at Copton with a 23 mile pipeline planned. Net asset Value at year end is $5.07 discounted at 10% and the kicker on this net asset value is. "Reserves related to Copton will be booked in 2000". Add at least $1.20 per share in asset value for Copton and were looking at over $6.25 per share in assets right now. And yet the selling persist? Best Regards, Richard