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

To: Bearcatbob who wrote (7136)	2/18/2000 9:22:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 24921

From Carlson on line it was released at 5.59 Eastern time. I was watching trading closely and right up to closing selling continued in Magin. My theory is that some investors were paranoid that bad numbers were going to come out and did not want to hold the stock over the weekend. There have been too many high profile disasters in oil patch and this has created a lot of anxiety in not trusting reserve numbers. I will go out on a limb and expect a minimum of 150 billion cubic ft to be eventually proved at Copton.This will add 52 bcf or 5.2 million boe at 10 to 1 ratio to Magins reserves. This is strictly a guess on my part based on the value of a 23 mile pipeline and 6 more wells to be drilled this year alone. Hope we get some good news on ELK by April. Take Care, Richard