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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (7773)	11/8/2000 9:54:11 AM
From: The Osprey	Read Replies (1) \| Respond to of 24899

Interesting note on BEC.T they are fully diluted at 13,966,000 shares so, are they saying that at $1.10/share cash flow they are going to have cash flows of $15,362,600.00 or are they basing that on just shares O/S of 12,838,750.Also Richard.....do you feel a multiple of 2 would be applicable in this case?Also they have 15.5 million in debt.I presume cash flow is before debt servicing but after royalties,drilling costs etc... This is almost a fine comparison to one other stock we discussed(OEL.V) which has 740 BOEPD production as of the last release with with almost no debt (at around 100K).Also I clarified on OEL that since there is no drilling as such and costs associated therein, the only costs would be related to a producing well such as royalties and labour costs etc....I also recall the President saying on National TV that the company could be profitable with $8.00US oil and 1.50US gas.Guess that gives you an idea of how low costs are.Guess I better keep an eye on BEC and see how it progresses from now to year end versus OEL on Vancouver...Now trading at 1.00.Going to be interesting... The Osprey "12,838,750 common shares outstanding 13,966,000 common shares fully diluted."(Taken from BEC website)

To: Richard Saunders who wrote (7773)	11/8/2000 3:42:17 PM
From: John Trudeau	Respond to of 24899

Richard, as discussed previously, BEC's mgmt is rated highly in the Calgary oil patch. Soooo.... with NYMEX NG currently at $5.36, and winter starting to settle in, BEC will no doubt go for some kind of a ride over the next 3 months - let's hope it's up:). With new production being tied in almost daily, and an NG ratio approaching 75% of production, I think it's reasonable to expect an upward trend. I still expect to see $3.00 per share by Christmas. Ciao, JT