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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (73174)	9/12/2000 4:09:26 PM
From: Sharp_End_Of_Drill	Read Replies (1) \| Respond to of 95453

For you Bonus fans, from Bloomberg: 09/12 14:27 Bonus Resource to Buy Tetonka for C$164.9 Million (Update1) By Gene Laverty Calgary, Alberta, Sept. 12 (Bloomberg) -- Bonus Resource Services Corp., a Canadian oilfield-services company, agreed to buy oil-well driller Tetonka Drilling Inc. for about C$164.9 million ($111.2 million) in stock. Tetonka holders will swap each of their shares for 1.507 Bonus shares. That values Tetonka at C$5.12 a share, or 23 percent more than Friday's closing price. Both companies are based in Calgary, Alberta. The merged company will be Canada's No. 3 oilfield-services provider and have operations in Australia, said Bonus Chief Executive Tom Alford, who will retain the CEO title. Tetonka's 24 drilling rigs will join Bonus's 220 service rigs. The companies expect to complete the transaction next month, giving Bonus 55 percent of the new company. Two-thirds of Tetonka's holders must first tender their shares. Tetonka Chief Executive John Hokanson will be the new company's executive chairman. Both companies agreed to pay a C$5 million fee if either breaks the purchase agreement. The companies announced the transaction yesterday. Bonus shares were unchanged at C$3.40 in midafternoon Toronto trading, while Tetonka rose 25 Canadian cents to C$5. Tetonka has about 32.2 million shares outstanding. Sharp P.S. I might just have to get some for the ole' portfolio

To: Think4Yourself who wrote (73174)	9/12/2000 4:11:43 PM
From: Ronald J. Clark	Read Replies (1) \| Respond to of 95453

JQP TMR is unhedged at this time. Last of their hedges (which was on oil production only) expired 6/30/2000.

To: Think4Yourself who wrote (73174)	9/12/2000 4:33:11 PM
From: Tommaso	Read Replies (1) \| Respond to of 95453

I was just doing some figuring about HGT, the gas royalty trust. The monthly trust payments lag income by about two months, or really three, until payment actually is made. The present 17 cents a share is double what it had been two months before. Every 75-cent rise in average gas prices for a month seems to increase royalty payments three months later by about 9 cents, I think. This means that if gas prices average $5.00 for this month, the December payment would be over 30 cents. This would lift the yield on the trust to about $3.60 or about 30 percent. If there is a real bad gas squeeze, it could get correspondingly higher. Even with the prospect of more drilling and more gas in the future, a yield such as that might well cend the stock price up. To get really fanciful, NG at $8.00 would at least temporarily raise the yield on HGT to 75 cents a month or $9.00 a year or about 70% of present prices. Now I admit that this is all pie in the sky, but I think this delay in raising distributions, which also delays figures in quarterly reports by two months, is disguising a potentially exciting situation (which, I admit, might not last that long). I am therefore playing HGT as a speculation that appears to me to have almost no downside risk for the short term and could produce very exciting gains as it looks better and better for the rest of the year on the basis of its yield.