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

To: SofaSpud who wrote (8695)	2/27/2002 2:44:40 PM
From: Cal Gary	Read Replies (1) \| Respond to of 24921

Thanks Stan, Mark and Sofaspud RAX. Looks like market mavens are going to draw a doji on the day. Setting up shop at 15.75 at the moment. A clip from the Globe and Mail today, Bent Jang writes. He provides some good info but misses some points. globeandmail.com The good: Calgary investment dealer Peters & Co. estimates Rio Alto's cash flow will be $313-million this year, compared with $690-million last year. The producer's ratio of debt to forecasted cash flow is nearly 2.9 -- too high for comfort. Based on a conservative outlook for natural gas prices, Peters pegs Rio Alto's net asset value at $16.82 a share. Using optimistic commodity projections, the value jumps to $22.22. Anyone knows what are Peter's current 'conservative' outlook for NG prices? The bad: One positive sign is that Rio Alto has finally retained a large engineering firm to do an independent evaluation of its reserves. Doah! This is the not "positive sign", its part of the reason why the markets have loped off $268mm market cap from RAX in one short week. I wonder if he'll retract this statement <gg>. LOL Hey, Stan. Would you mortgage the house if RAX crashes to $12??