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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (11702)	8/23/2000 2:26:49 PM
From: JayBird_606	Read Replies (1) \| Respond to of 15703

Berkley Pete cut to SELL (from HOLD) today, by Yorkton O&G analyst Andrew Hogg. A short summary of his reasoning follows: ----------------------------------------------------- He cites cash flow being well below expectations primarily due to a much lower than expected natural gas price as Berkley's hedges have prevented the company from fully participating in the strong natural gas prices. Berkley's average annual production forecast has dropped from 36,000 boe/d in May this year to current forecast of 30,000 to 31,000 boe/d. He is now forecasting 17% growth in production for Berkley in 2000, although the per share impact of the production growth is offset mostly by a 16% increase in outstanding shares. ---------------------------------------------------------- Not encouraging, however a major exploration success could alter these numbers and the sentiment. I would think BKP#2 and BKP#3 successfully completed (under-budget), and on-stream with sizeable daily production would really help.