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Gold/Mining/Energy : OEL.V Osprey Energy Limited -- Ignore unavailable to you. Want to Upgrade?

To: mappingworld who wrote (222)	5/13/2000 6:34:00 PM
From: The Osprey	Respond to of 1134

Oh yes very safe Olga.The Osprey is extremely bullish.I like this article out on the 13th which mentions one of Osprey's JV partners in Alberta on the Jenner Property. Time to head for value stocks Lofty tech prices will fall if companies' earnings disappoint Sonita Horvitch Financial Post With valuations on some leading tech stocks still at lofty levels, investors who are value conscious should be setting their sights on other areas such as energy, financials and some special situation stocks that are under a cloud, says William Dye, executive vice-president at Leith Wheeler Investment Counsel Ltd. in Vancouver. "The equity market is currently well balanced between fear and greed," says Dye, a value manager specializing in Canadian equities. Although the move by the U.S. Federal Reserve to raise interest rates has caused some consternation, investors are realizing that this is not the end of the world, he notes. The tech and biotech correction in March and April has taken some of the froth out of the market, he says. At the time of the correction, there was a flight to the big-cap techs and some of these stocks are "priced for perfection" and will be battered if the companies disappoint. Leith Wheeler establishes a three-year target for stocks and fixed-income securities and uses its own interest rate forecast as a hurdle to test prospective returns on equities. Its asset allocation is now 55% in stocks, 40% in bonds and 5% in cash. For the column, Dye chose: - Crestar Energy Inc. (CRS/TSE), which had a recent close of $23 and trades in a 52-week range of $24.50 to $15.60. The Calgary-based company explores for and produces both oil and gas in Alberta, Saskatchewan and British Columbia. About 45% of its production is in gas and 55% in oil. "This company is a bread-and-butter energy producer. It is not hunting elephants as an aggressive exploration company," Dye says. Management has a strong shareholder orientation and is focused on boosting return on capital and net asset value per share, Dye notes. Crestar is "actively repurchasing stock, which is not common among energy producers." The stock trades at a discount to its net asset value. Dye is looking for Crestar to generate cash flow of $8 a share three years from now. Based on a multiple of 4.5 times cash flow, his three-year target on the stock is $36. "It is not a flashy story, but that is what makes the stock attractive." The Osprey

To: mappingworld who wrote (222)	5/14/2000 11:06:00 AM
From: The Osprey	Respond to of 1134

Hi Olga, And with this news the outlook for gas and oil prices at the wellhead should remain very stable. Gasoline prices expected to rise during summer, says global survey BRUCE STANLEY LONDON (AP) - Greater crude oil supplies helped ease gasoline prices in April, but a surge in the number of people driving during the summer is expected to push up prices at the pump soon, a respected industry survey said Thursday. Global oil supplies grew last month by 700,000 barrels a day, or almost one per cent, with Iraq accounting for much of the increase in exports. As a result, prices for crude fell from their March levels by an average of more than $4 US a barrel, the International Energy Agency reported. Prices for gasoline and other refined products reflected only part of this reduction in the price for crude. Gasoline supplies were pinched because many U.S. and European refineries cut output to refurbish their equipment, the agency said. The report predicted that any additional price relief for motorists would be brief. A rise in demand during the peak summer driving season in North America and Europe threatens to trigger another round of retail price hikes, it said. The Paris-based IEA is part of the Organization for Economic Co-operation and Development, a group of the world's wealthiest countries. U.S. gasoline prices remained fairly steady in late April and early May. The average pump price nationwide was $1.53 US a gallon, down about 25 cents a gallon from from April 21. In Canada, prices have dropped several cents a litre but have been rising in some markets recently as demand increases and world oil prices rise. "It's doubtful they're going to get too much cheaper. The season's about to begin," said Peter Gignoux, managing director of the petroleum desk at Salomon Smith Barney in London. One surprise in the agency report was that imports of oil by seven major consuming countries fell four per cent in March compared with the previous year. The agency said the decrease was exaggerated because demand was unusually strong the previous March. Nonetheless, Leo Drollas, chief economist at the Centre for Global Energy Studies in London, said the decline was staggering. Oil prices tripled after OPEC members agreed to curtail production in March 1999, rising above $34 US a barrel for West Texas Crude at one point. The energy agency predicted that year-on-year demand would rebound by 2.8 per cent in the second quarter, 2.8 per cent in the third quarter and 2.9 per cent in the fourth quarter. These increased needs will have to be met mostly with crude exports from the Organization of Petroleum Exporting Countries. World output of oil increased after OPEC decided March 28 to boost production back to what it was before last year's cuts. Production jumped to 76.3 million barrels a day in April, an increase of 660,000 barrels, the IEA said. Output rose in every OPEC country except for Iran. Oil exports from former members of the Soviet Union reached a record high in April, but total non-OPEC production declined, due partly to foul weather and technical problems for Norway's North Sea oil rigs. Iraq accounted for more than half of the April increase in OPEC supplies, even though it did not participate in the group's latest agreement to boost output. Gignoux described Iraq as OPEC's "swing producer" in today's spot market and said the country has restored its production capacity almost to what it was before the Gulf War. "Iraq is still the major supply wild card for the near-term oil markets," the energy agency said. In trading, June contracts of West Texas Intermediate crude closed up $1.01 to $29.11 US a barrel on the New York Mercantile Exchange. June Brent crude from the North Sea rose $1.03 to $27.45 a barrel on London's International Petroleum Exchange. ¸ The Canadian Press, 2000 THE OSPREY(extremely bullish as my pro forma analysis used 20.00USD/Bbl for oil and 2.50USD/MCF of gas.)