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

To: RIK who wrote (8046)	3/11/2001 11:12:02 PM
From: Richard Saunders	Read Replies (1) \| Respond to of 24939

RIK - check the equivalent numbers on what Shell's hostile move at Barrett Resources seem to work out in cdn. equivalent. I know, apples and oranges for comparison's sake when thinking about cdn. producers vs. a situation like Barret however it does make one wonder....... Barrett is mostly gas and the initial hostile u.s. cash attempt checks out with 10:1 conversions at something in excess of cdn$80,000 per flowing barrel of production and cdn$19 per proven BOE. Interesting days ahead or just froth?

To: RIK who wrote (8046)	3/12/2001 7:48:48 PM
From: Richard Saunders	Respond to of 24939

VTU Ventus getting ready to say good-bye? Also, TET news released that a well operated by Petro-Canada in northeast b.c. is a good one. Monday March 12, 6:02 pm Eastern Time Ventus Energy hangs out 'For Sale' sign CALGARY, Alberta, March 12 (Reuters) - Another small Canadian oil company said on Monday it would entertain bids or consider a restructuring as a way to boost its share price amid a flurry of takeover activity in the energy sector. Ventus Energy Ltd. (Toronto:VTU.TO - news), which produces oil and gas in in northern Alberta, said it hired financial advisers to help it look for ways to boost value because the stock price did not reflect what it believed the company's assets were worth. The move by Ventus, which has a market capitalization of about C$285 million ($184 million), follows a similar announcement last week by mid-size producer Chieftain International Inc. (Toronto:CID.TO - news), which operates mostly in the U.S. Gulf of Mexico. ``The process of reviewing alternatives is being undertaken in light of this value gap and the very rapid consolidation occurring within the industry,'' Ventus said in a statement. Ventus last month reported strong results for 2000, due to sky-high oil and gas prices and rising production. For the year, earnings jumped 166 percent to C$21 million or 88 Canadian cents a share, while production grew 176 percent to 9,904 barrels of oil equivalent a day. Average output in 2001 is projected at 15,900 barrels of oil equivalent a day, said Ventus, which bought Canadian rival Edge Energy for C$161.5 million last summer. Ventus said it hired BMO Nesbitt Burns Inc., FirstEnergy Capital Corp. and Waterous & Co. as financial advisers. The company's shares closed unchanged at C$9.30 in Toronto on Monday, near their 12-month high of C$9.35. The share has traded as low as C$6 in the past year. ($1 equals $1.55 Canadian)