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Gold/Mining/Energy : Scimitar Hydrocarbons, SIY:ASE -- Ignore unavailable to you. Want to Upgrade?

To: j.oil who wrote (825)	8/5/2000 10:29:26 AM
From: Blaumax	Read Replies (1) \| Respond to of 864

OT What the heck were you doing up so late? As for myself, I was on 'puke patrol'. One of my kids had the stomach flu with a fever and threw up from about 10:00am Friday to 5:00am Saturday. I can't believe the volume these little people produce! Anyway, I may be able to negotiate an afternoon nap after last night :~)

To: j.oil who wrote (825)	8/5/2000 6:53:52 PM
From: Blaumax	Respond to of 864

J. Noticed some discussion going on about SIY's profitability during lean times. Here's something from the 1999 Annual Report (which by the way I would encourage any investor/potential investor to read!) "Scimitar achieved its first operating profit in May while oil prices were at an average of $15.00 per barrel." Back then SIY had no debt and was still making an 'operating profit' at an average of $15.00 per barrel. I remember calling the company around that time and being told that the break even point was substantially lower. I can't verify this but the next time I call IR, I'll ask. Here's some information that was presented at the AGM. -SIY has increased production by 192% from March 1999 to March, 2000. (Actually 361% from March 1999 to August 2000) -SIY has cut General/Administrative monthly costs in the Calgary office from $70,500 (March 1999) to $35,500 (March 2000). -During this same period (March 1999 -March 2000) they have also increased their profit by 786%. -Total operational strength is less than 25 personnel (March,2000) But were there any 'significant changes' from May of 1999 to August 2000 other than increases in production? Any 'significant' cost expenditures? Did they take on a huge debt load? Cut back production?... Any 'significant change' would have to be reported and a PR released. The only PR's I've been seeing are the ones that show SIY drilling and adding to production. IMHO, kind of looks like SIY would be okay if the price of oil were to head south. Any comments out there? Also, SIY's website has all the Financials, Terms of Agreement...And if you can't find something specific,ie. the PSA (Petroleum Service Agreement) call the company @ 1-800-933-8855 and ask. scimitar.ab.ca Max