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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (1300)	8/21/2001 9:25:45 AM
From: teevee	Read Replies (1) \| Respond to of 8273

russet, SUF.t,...still waiting for the contract to buy PGM's, and the cashflow statement. Show me the money....gggg Currently up to my paws in CP.t,...figure the pieces are worth more than the whole. Pieces start trading in effigy tomorrow,...should take a week or two to figure out what's what. Interesting situation, but with the parts collectively trading at 2 times book, I am on the sidelines on this one:-)) There has been an interesting move up in uranium prices and CCO has responded. I have been in and out of this one and am currently back in. I also like the CCO investment in Bruce Power. I get that warm feeling every time someone in Ontario turns on the lights. gggg:-)) I have been sitting on cash and core positions like SHC.TO-huge growth story there over the next decade. Here is an interesting junior gas play with built in production growth. I see 2001 year end, annualized cash flow ranging from $1.60 to $2.00/share for PEY.T. See yesterday's quarterly report: Peyto Exploration & Development Corp. Announces Second Quarter 2001 Financial and Operating Results SYMBOL: PEY - TSE CALGARY, Aug. 20 /CNW/ - PEYTO Exploration & Development Corp. is pleased to present its second quarter financial and operating results for the period ended June 30, 2001. Second quarter production increased 136% to 2,171 boe per day (barrels of oil equivalent with natural gas production converted on a 10:1 basis) from 921 boe per day for the same quarter in 2000. Peyto produced 15.5 million cubic feet (mmcf) of natural gas and 621 barrels of natural gas liquids and oil per day. Production gains, higher commodity prices and lower operating costs all combined to increase funds from operations from $2.5 million ($0.08 per share) in the second quarter of 2000 to $8.2 million ($0.20 per share) in the second quarter of 2001. Earnings increased 276% from $1.2 million ($0.04 per share) in the second quarter of 2000 to $4.5 million ($0.11 per share) in the second quarter of 2001. Product prices averaged $7.02 per mcf for gas and $36.82 per barrel for natural gas liquids and oil. Operating costs decreased from $3.91 to $2.29 per barrel of oil equivalent. The field netback realized was up 39% from a year ago to $44.88 per boe. Capital spending totaled $18.6 million for the quarter of which $13.7 million or 73% of the total were drilling costs. The expansion of the Sundance gas processing facility to handle 48 mmcf per day of gas was completed in June 2001. The facility was originally constructed by Peyto in April 2000 to handle a capacity of 10 mmcf per day. Production processed at the facility was shut-in for a total of three days during the quarter to accommodate the expansion. Peyto drilled or re-entered a total of 9 gross (7.9 net) gas wells and pipeline connected one gross (0.6 net) well to the Sundance gas processing plant. One hundred percent of the drilling and re-entry operations were successful and are scheduled to be pipeline connected in the third quarter. Subsequent to spring break up, drilling, completion, equipping and pipeline operations have resumed. A total of 8 gross (6.9 net) gas wells have been connected and brought on production since the end of the quarter. Production currently exceeds 3,000 boe per day. The proven exploration and development program that Peyto is executing in the area of West Central Alberta is forecast to generate significant production growth during the final half of 2001. Capital spending for the remainder of the year will continue to be focused on drilling multi zone low risk gas targets in Peyto's core area of Sundance, Alberta. Shareholders and interested investors should visit Peyto's website, www.peyto.com, to view the Company's presentation and past press releases.