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

To: jim_p who wrote (82870)	12/27/2000 5:03:23 PM
From: Razorbak	Respond to of 95453

Hurricane Hydrocarbons (HHLF) Jim & Slider: Hurricane's growth was all through the drillbit, too. Plus they're paying back their debt at a furious pace. After the US$32MM December 31st payment to the noteholders, there will be only US$24MM left before the noteholders are paid in full. Razor Hurricane: "Debt Repayment and Capital Budget Approval" Wednesday December 27, 9:00 am Eastern Time Press Release SOURCE: Hurricane Hydrocarbons Ltd. CALGARY, Dec. 27 /CNW/ - Hurricane Hydrocarbons Ltd. ("Hurricane") announces it will on December 31, 2000 make a principal repayment of US$30.0 million on its Canadian and United States dollar denominated Senior unsecured notes. Including US$2.2 million in interest, the total amount paid to the noteholders will be US$32.2 million. After the December 31, 2000 payment, the total principal outstanding to the Company's noteholders will be US$23.9 million. The Company is ahead of its repayment obligations and has the right to prepay the balance of the principal at any time prior to December 31, 2001 without penalty. Details of the precise payment made on December 31, 2000 split between principal repayment and interest will be forwarded by Hurricane's trustees to the registered noteholders of record after December 31, 2000. Hurricane's Board of Directors has authorised management to spend up to US$180 million in capital expenditures in the year 2001. The execution of this authorised program remains subject to regulatory approvals in Kazakhstan. The development of the "QAM" fields, Qyzylkiya, Aryskum and Maibulak would account for approximately 50% of this capital program. Hurricane's shares are traded on the Toronto Stock Exchange under the symbol HHL.A and in the United States on the National Quotation Bureau (NQB) under the symbol HHLF. The company's website can be accessed at www.hurricane- hhl.com. The Toronto Stock Exchange has neither approved nor disapproved the information contained herein. For further information please contact: Keith G. Lough, Chief Financial Officer, 44-1753-705-061, Ihor P. Wasylkiw, Vice President Investor Relations, (403) 221-8658 biz.yahoo.com

To: jim_p who wrote (82870)	12/27/2000 5:09:27 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

EEE selling at 20X cash flow? Fuzzy math... What #'s? That doesn't even look remotely accurate. As you know their hedges came off in Oct. They were hedged at $2. I don't think past # do much good when you consider hedges, acquisitions, drill bit gains etc. I definately appreciate all your work in the past on the E&P list you compile. It's a great starting point for research. But you can't call EEE expensive imho. Based on a conservative analysis of where other Canadian companies have sold for EEE will probably go for about $4.50 and it's selling for 2.60 now. See Danwilson Yorkshire's analysis on the Yahoo EEE board. Also Duke wants a sale done and many expect that $4 is the mininum bid...that was several months ago before we knew kind of winter we were going to get. In this new environment if EEE said they weren't for sale it'd probably shoot up to $4+ pretty quick. EEE analysis messages.yahoo.com Others have independantly come up with similar #'s. The situation in the NG markets is different than when the OSX was trading at 140 and oil was at $35. In hindsight that was obviously a profit taking scenario. OPEC wanted the price lower and the Gov had an SPR at their disposal for ST fixes. But with NG there is no quick fix and we have yet to see if we're going to have shortages across the nation. That said I only own the small caps. Currently in EEE, TXCO, TXLI, PNO and PRZ. At some point the large cap E&Ps will make good shorts, but given their fundamentals I won't be too quick to pull that short trigger. The bio-techs will have a number of lockups expire within 6 months. The street.com ran an article on it. It should be pretty safe to short the index in a couple months. Some of the financial may also be really good shorts if they continue to run ahead of Greenspan's cuts. In sum, there are enough opps to short that I don't have to risk shorting NG plays. Maybe in 1-2 years - if we see some decent production gains. There will be plenty of time to short imho. If not the large caps then the small or mid caps. Index comparisions do not do the NG sector justice of late. RRC, EPEX, CRK, MHR and many others are screaming. I think the lagging small caps will have a nice run in Jan. I have increased my exposure to these plays in the last week. Also before everyone gets too cocky about NG plays Slider has been proven right far more than wrong. I think he's ahead of the curve again, but it's good to be thinking like that so you can start picking your sell pts.

To: jim_p who wrote (82870)	12/29/2000 3:35:43 PM
From: Razorbak	Read Replies (2) \| Respond to of 95453

"Hurricane A Whirlwind Turnaround" Calgary Herald - 12/28/00 7:56:12 AM Geoffrey Scotton Calgary Herald Flush with cash, turnaround miracle Hurricane Hydrocarbons Ltd. continued its fast-paced rehabilitation Wednesday, announcing plans to retire ahead of schedule a whopping 56 per cent of its long-term debt. Hurricane officials said the company would make a $32.2 US million debt payment, while expanding its capital spending to $180 million US. At the same time, company spokesman Ihor Wasylkiw said Hurricane is still considering other uses for any extra cash, such as a share buyback, purchase of property or an increase in Hurricane's share dividend. "We are still looking at ways to spend our cash flow," said Wasylkiw. The planned debt retirement follows a similar $54.2 million US late September payment to bondholders that provided strong evidence the once nearly insolvent company planned to apply the bulk of its new wealth to ridding itself of debt. The latest payment, to holders of the the company's Canadian and U.S. dollar-denominated senior unsecured notes, is set for Dec. 31, which will cap a year of activity and events for the Calgary-based firm that read like an adventure novel. Just three weeks ago the company managed to overcome a rather bizarre coup attempt at its Kazakhstan Republic oil refinery, which saw the former chairman of the facility's management board fail to gain control of the plant despite a day-long occupation by a mercenary security team hired by the former official. It was a reminder of the troubling events that once plagued the firm, which earlier this year moved to run its operations out of Windsor, England as part of its ongoing revitalization after being forced to seek creditor protection in May 1999. That move came in the wake of weak oil prices, the collapse of the Soviet economy and problems at its refinery, a refinery it eventually purchased as part of its efforts to emerge from creditor protection, a goal the company achieved in March of this year. Since then the company has achieved a series of increasingly stellar financial results, including its third quarter numbers, released in late October. Those showed profits rose to $62.3 million US or 79 cents Cdn. per share from $19.5 million US or 44 cents Cdn. per share during the same period a year earlier. Hurricane said about half of the planned $180 million in capital spending in 2001 will be focussed on its so-called QAM fields in Kazakhstan, Qyzylkiya, Aryskum and Maibulak. Wasylkiw noted about half of the money earmarked for the QAM fields, or around $45 million, is attributable to a planned pipeline which will require regulatory approval from Kazakh authorities and that the exact timing of that approval is uncertain. "If the government delays any kind of approval process, then what our investors will find is that we will not physically be able to spend $180 million, not because of the fact we don't want to, but because of the fact we can't," said Wasylkiw. He added the company will also keep the current moderation in the price of crude oil in mind as it makes any adjustments to its capital expenditure plan going forward. "We want to make sure that the programs we implement give us breathing room," said Wasylkiw. Shares of the company ended Wednesday's session on the Toronto Stock Exchange off 15 cents at $7.45. stockhouse.ca