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Gold/Mining/Energy : GENTRY RESOURCES LTD. (GNY.B - TSE) -- Ignore unavailable to you. Want to Upgrade?

To: jerry janko who wrote (534)	8/16/2000 10:08:53 AM
From: Len Hynes	Respond to of 601

Hi Jerry; More explosive news...this time on the outlook for the future price of natural gas.Gentry's management has made a smart move in increasing their %age production of natural gas. Canadian Gas Price Seen Doubling on U.S. Demand By Dann Rogers CALGARY (Reuters) - Canadian natural gas prices, which have fallen 25 percent in the past 10 weeks, could double by this winter due to demand by gas-fired electrical utilities in the United States, analysts said. Expressed in U.S. currency, Canadian day-to-day prices in Alberta have declined to $3 per unit from $4 on May 30, while U.S. prices have remained steady during that period at about $4.35. The price difference between Canadian and U.S. gas has widened to $1.35 a unit from its traditional level of 35 cents. ``The price decline is a temporary phenomenon,'' said industry analyst Peter Linder of Research Capital Corp. ``The utilities in Eastern Canada aren't taking much gas at the moment to put into storage and we've had no heat wave in Chicago and New York, which are big buyers of Alberta gas.'' Gas in storage in Eastern Canada was down to 147 billion cubic feet last week compared with 179 billion cubic feet in the year-earlier period, according to the Canadian Gas Association. In the U.S., total storage inventories of 1.985 trillion cubic feet were 366 billion cubic feet, or 16 percent, below year-earlier levels and more than 200 billion cubic feet below the five-year average. ``By the fall, that price difference should narrow as demand increases when the utilities increase their injections into storage,'' said Linder. ``And if we get a cold winter, Canadian prices could double from what they are now.'' A report by FirstEnergy Capital Corp. on Monday noted that the lack of significant hot weather in the U.S. this summer has depressed electricity demand -- and prices for Canadian natural gas. The report's author, analyst Martin Molyneaux, said the outlook for Canadian gas within the U.S. electricity generation mix remains upbeat because of capacity constraints at nuclear and coal-fired power stations. Despite the roller-coaster ride of gas prices over the past decade, gas-fired electricity generation in the U.S. had risen to 15 percent of all power produced in 1999 from 12.5 percent in 1990. ``Given our arguments that coal and nuclear generation are very close to their available limits, we believe the immediate choice of generation will be natural gas-fired power plants,'' wrote Molyneaux.

To: jerry janko who wrote (534)	8/18/2000 2:58:30 PM
From: Len Hynes	Respond to of 601

Hi jerry; This article appears to indicate oil and gas stocks will be firing on all cylinders very soon as investors come to realize that high energy prices will be with us for quite a while into the future. Energy Shares Expected to Soar on Production Growth By Dann Rogers CALGARY (Reuters) - High oil and gas prices have boosted Canadian energy stocks by 29 percent since April and now production growth should lift share prices another 50 percent in the coming year, analysts said on Friday. As the second-quarter reporting seasons winds down, the industry's fears that investors would continue to shun energy issues -- despite record profits -- in favor of high-tech stocks, appears to be diminishing. The Toronto Stock Exchange oil and gas producers index had climbed to above 6550 by Thursday from 5080 at the end of March when the bloom started coming off the high-tech rose. The oil and gas index was swept along by increases in stocks such as Alberta Energy Co Ltd., Canadian Natural Resources Ltd. and Talisman Energy Inc. Alberta Energy's second-quarter profit rose more than sixfold to C$117.1 million from C$18.5 million in the year-earlier period; Canadian Natural's climbed to C$175.5 million from C$23.5 million and Talisman's surged to C$208 million from C$17 million. ``The second quarter was all about high commodity prices, but this third quarter will be about volume growth,'' said Josef Schachter of Schachter Asset Management Inc. which invests on behalf of individuals and institutions. ``If the prices remain stable and the production volumes grow, that will be the key to a big run-up in share prices. I see the producer index gaining another 1,000 points this year and then rising to 10,000 next year.'' Analysts who work for brokerage firms that promote the sale of oil and gas stocks are almost always bullish on the sector's outlook, but now even more so. ``Investors didn't want to believe that these high prices were here to stay for oil and gas, but now they are coming around to accept that oil prices will remain at around these levels and gas will go even higher,'' said Peter Linder of Research Capital Corp. Oil prices remain above $30 a barrel because of low U.S. crude stocks. Gas prices in Alberta, at about C$4.50 per gigajoule, are almost double year-earlier levels, also because of low inventory levels going into this winter. ``Investors are fickle,'' said Linder. ``They were caught up in the high-tech hype, but now they're worried about that sector. ``If this continues, we expect more and more investors will look for share price appreciation from 'old economy' stocks such as oil and gas.'' To be sure, not all analysts share that view, including Martin Roberge, a strategist with National Bank of Canada, who warned clients last week that the time is approaching when investors should pull their money out of the energy sector because it is near its cyclical top. Although commodity prices haven't yet begun to fall, it isn't unusual for investors to pull out of a sector before a decline cycle, he said. ``Nobody wants to be left holding the bag when the tide turns in the opposite direction,'' Roberge wrote in a research report.

To: jerry janko who wrote (534)	8/21/2000 10:22:30 AM
From: Len Hynes	Respond to of 601

Hi jerry; Sloane continues to hit the big time with its gas exploration program in the Provost area.Are you aware that Gentry owns approx. 42% of Sloane.This, along with Gentry's continued exploration success should "light a fire" under Gentry's share price in the weeks to come. August 21, 2000 SLOANE ANNOUNCES SECOND LOCATION SUCCESSFUL Sloane Petroleums Inc.(“Sloane”) is pleased to announce that the follow-up location to the initial Provost Area well (announced March 9, 2000) has met with considerable success. This second well has encountered 11.5 meters of gas pay, is structurally higher than the initial well and flowed gas at a rate of 5.0 mmcf/d on a single point deliverability test.The well is currently being tied-in and is expected to be on production within the next few weeks. Evaluation for further drilling locations is ongoing. Sloane maintains a 25% working interest in this property..Sloane trades on the Canadian Venture Exchange (“CDNX”) under the symbol “SLN” and currently has 7,032,707 common shares issued and outstanding. The Canadian Venture Exchange has neither approved nor disapproved the information contained herein. Enquiries:Roger Fullerton Hugh G. Ross Gordon McKay Manager, Investor Relations President & C.E.O. Vice-President, Exploration Ph: (612) 929-7243 Ph: (403) 264-6161 Ph: (403) 264-6161 Fax: (612) 836-1094 (403266-3069mailto:Hugh@gentryresources.com roger@gentryresources.com mailto:hugh@gentryresources.com hugh@gentryresources.com mailto:gord@gentryresources.com gord@gentryresources.com

To: jerry janko who wrote (534)	8/28/2000 9:01:21 AM
From: Len Hynes	Read Replies (1) \| Respond to of 601

Gentry Announces Record First Half Results 08:21 EDT Monday, August 28, 2000 CALGARY, Aug. 28 /CNW/ - Gentry Resources Ltd. ("Gentry") is pleased to announce financial and operating results for the six months ended June 30, 2000. HIGHLIGHTS - Gross revenues of $6,246,655 were 188% higher than the $2,168,362 recorded in the first six months of 1999. - Cash flow was up 489% to $2,664,620 from $452,375 in the first six months of 1999. - Production was up 65% to 1,039 boe/d from 628 boe/d in the comparative six-month period. - Gentry recorded a profit of $1,117,184 versus a loss of $257,404 in 1999. - The Company's ratio of bank debt to annualized cash flow was a very healthy 0.75:1. Three months ended June 30 Six months ended June 30 2000 1999 % 2000 1999 % change change ------------------------------------------------------------------------ Financial Revenue $3,253,904 $1,215,572 168% $6,246,655 $2,168,362 188% Cash Flow 1,317,083 300,687 338% 2,664,620 452,375 489% Per share 0.062 0.016 388% 0.126 0.025 404% Net Income (loss) 593,116 (78,442) n/a 1,117,184 (257,404) n/a Per share 0.028 (0.004) n/a 0.053 (0.014) n/a Capital Expenditures 521,730 606,226 (14)% 1,045,801 1,900,445 (45)% Long-term Debt 4,020,000 2,585,861 55% 4,020,000 2,585,861 55% Weighted Average of Shares outstanding 21,111,554 18,254,732 16% 21,162,252 18,279,318 16% ------------------------------------------------------------------------- Production Oil & Liquids (bbls/d) 805 523 54% 835 536 56% Gas (mcf/d) 2,219 1,049 112% 2,044 922 122% Barrels of oil equivalent 1,027 628 64% 1,039 628 65% ------------------------------------------------------------------------ Average Prices Oil & Liquids per barrel $31.99 $20.63 55% $31.60 $18.36 72% Gas per mcf $4.51 $2.45 84% $3.88 $2.32 67% ------------------------------------------------------------------------ OPERATING PERFORMANCE Crude oil and ngls volumes increased 56% to 835 bbls/d during the first six months of 2000, compared to 536 bbls/d in the corresponding period in 1999. Natural gas sales increased 122% to 2,044 mcf/d from 922 mcf/d a year ago. FINANCIAL PERFORMANCE Production revenues for the first six months of 2000 increased to $6,246,655 compared with $2,168,362 in the corresponding period in 1999, representing a 188% increase. Cash flow from operations increased 489% to $2,664,620 compared to $452,375 while net income after taxes was $1,117,184 compared to a loss of $257,404 a year ago. This year's six-month crude oil and ngl prices averaged $31.60 per barrel compared to $18.36 per barrel in the first six months of 1999. Natural gas prices were up 67%, averaging $3.88 per mcf compared to $2.32 per mcf in the corresponding period. ACTIVITY Early in the first half of 2000, the Company participated in a three-well drilling program in the Thornbury area of northeastern Alberta, which resulted in two successful gas wells and one abandoned well. A total of five wells from the previous drilling program were also tied in and put on production in April. Additional compression was added to a number of wells in the field and further plant compression is planned for later this year to add to overall production volumes. Future plans also include the evaluation of a deeper Devonian prospect which was the focus of a recent seismic program, as well as continuing to develop and increase the reserves and deliverability of the existing field. Several wells are planned for late in the fourth quarter this year. The Company owns an 18.3% working interest in the Thornbury lands. At Baldwinton, the Company and its partners have recorded several seismic lines in this area and identified five locations to be drilled in late September. Gentry owns a 30.5% working interest in the Baldwinton lands. In the Benson area, five horizontal wells and one vertical well are planned to be drilled early in the fourth quarter. Three of the horizontal wells will be dual leg wells. The Company holds a 10.9% working interest in this core property. In the West Provost area two gas wells were drilled early in the first half of the year. The Company anticipates drilling a number of other locations prior to year end. Gentry owns varying working interests, from 26% to 32%, in the Provost lands. In Gentry's Steelman lands, where the Company owns working interests from 2.7% to 19.9%, two horizontal wells are scheduled for drilling in the third quarter of 2000. The Steelman Units have excellent potential for additional horizontal wells. Sloane Petroleums Inc. ("Sloane"), a company that is 41% owned by Gentry, also had a strong six months of operations. In the fourth quarter of 1999 Sloane participated in a significant pool extension to an existing gas discovery in the Provost area of southern Alberta. This highly successful well was tied in late March, increasing Sloane's production to approximately 140 boe/d. Sloane and its partner have since acquired additional land holdings in the area, and a second location was recently drilled and is currently being tested. A single joint delivery test flowed gas at a rate of 5 mmcf/d and further results of the well will be available in approximately two weeks. Gentry also holds a 40% interest in Stratic Energy Corporation ("Stratic"), a company focused exclusively on international exploration, primarily in Africa. Stratic is planning for an ambitious yet balanced program of exploration initiatives in Cote d'Ivoire with Ranger Oil and in Gabon with Energy Africa. In July, Stratic completed a financing raising gross proceeds of $1,750,000 to help fund its exploration programs in West Africa. The Company's increased level of drilling activity will continue to generate strong cash flow and allow production performance to continue the growth trend Gentry has consistently maintained. The Company has considerable financial flexibility due to the Company's ratio of total debt to forward year's cash flow being less than 1 to 1. The Company will continue to seek value-added acquisition and drilling opportunities within its core areas of focus. Gentry currently has 20,732,305 shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "GNY".