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

To: Craig C who wrote (7161)	3/8/2000 11:04:00 PM
From: Fun-da-Mental#1	Read Replies (1) \| Respond to of 24921

I bought Renaissance (RES) today. Like you say Craig, it's cheap. Based on this quarter's results, their ratio of debt to cash flow is about 2, price/revenue is 1.5, and price/earnings is 12. And this is based on an average selling price of $20 a barrel. Their reserve estimates and valuation are also based on $20 a barrel. For anyone who believes the price of oil is going to be higher than $20 a barrel this year, this stock is a steal. A complaint I'm hearing about RES lately is their reserves are only enough to last 10 years. So what? They're not going to stand still while their reserves run out, especially now they have lots of money to use for exploration and takeovers. They shouldn't be buying up their own shares, they should be picking up the pieces of bankrupt junior companies. Fun-da-Mental