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

To: Razorbak who wrote (83055)	12/29/2000 3:43:27 PM
From: kodiak_bull	Respond to of 95453

Naz setting, like the sun over Ixtapa. Down 5% and falling? Is this the way 2000 ends, not with a bang (Naz 2200?) but with a whimper (Naz 2437?). Interesting moments, got your lowball bids in? Kb

To: Razorbak who wrote (83055)	12/30/2000 12:04:04 AM
From: Razorbak	Read Replies (1) \| Respond to of 95453

Hurricane Hydrocarbons (TSE:HHLa, NQB:HHLF) -- Net Asset Value Calculation Thread: Below is my New Year's gift to all the participants and lurkers on this message board. It is a detailed estimate of Hurricane Hydrocarbon's Net Asset Value (NAV) at September 30, 2000. This is an intentionally conservative analysis based upon the best information available to me at present. Also included is a listing of highlights from the 3Q00 financial report. It contains some great data worthy of consideration. Like I've said before, with the current price hovering around US$5.00/share, Hurricane still has the potential to easily double from here. That's why this stock is still in my portfolio, despite the 150%+ appreciation since my initial purchase. Comments, feedback, and flames are welcomed. =) Happy New Year to all! Best regards, Razor ---------------- HURRICANE HYDROCARBONS LTD. Net Asset Value (NAV) September 30, 2000 Total Per Share (d) Item Category (US$MM) (US$/sh) ---- ------------------------------------------- -------- -------------- 1 Oil & Gas Reserves, Estimate (a) $800.0 $8.73 2 Acreage, Estimate (b) 40.0 0.44 3 Current Assets 78.5 0.86 4 Future Income Tax Asset 15.0 0.16 5 Capital Assets, Net (c) 209.7 2.29 --------- --------- Estimated Total Asset Value $1,143.2 $12.48 6 Current Liabilities (96.5) (1.05) 7 Long Term Debt (20.0) (0.22) 8 Provision for Future Site Restoration Costs (1.4) (0.02) 9 Future Income Tax Liability (19.1) (0.21) 10 Minority Interest (29.1) (0.32) 11 Preferred Shares of Subsidiary (0.1) (0.00) --------- --------- Estimated Net Asset Value (9-30-00) $977.0 $10.67 ========= ========= Footnotes --------- (a) Oil & Gas Reserves, Estimate = McDaniel estimates adjusted for 2000 prices and sovereign risk. (b) Acreage, Estimate = 5% of reserve portfolio value. (c) Capital Assets, Net = Book value (Conservative; Refinery alone is worth US$300MM). (d) Common Shares Outstanding, Fully Diluted = 91.6 MM shares. ---------------- 3Q00 HIGHLIGHTS Hurricane's Third Quarter 2000 achievements included the following: 1) Record earnings of US$0.79 per share (US$0.69 fully diluted) -- P/E Multiple = 1.8X 2) Record cash flow of US$0.93 per share (US$0.82 fully diluted) -- P/CF Multiple = 1.5X 3) Record production of 89,588 barrels per day, an increase of 19% over the third quarter of 1999 and 10% over the second quarter of 2000 4) US$50 million of principal repayment on United States and Canadian Notes 5) Initiation of pilot production in the Qyzylkiya oil field 6) Added in Canada to the TSE 300 Composite Index in the Integrated Oil and Gas Group effective October 20, 2000 7) Submitted an application to Nasdaq in the United States for a new listing.