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

To: Kerm Yerman who wrote (8770)	3/28/2002 12:21:01 PM
From: Goldberry	Read Replies (1) \| Respond to of 24922

Good to hear from you Kerm. Hope all is well at your end.

To: Kerm Yerman who wrote (8770)	3/31/2002 9:26:06 AM
From: Lorne Larson	Read Replies (1) \| Respond to of 24922

Kerm: I agree 100% with your comments regarding accounting in respect to the oil and gas companies when it comes to reserves. However that aside, one of the reasons I have always felt more comfortable with the oil and gas financials is because they emphasize operating cash-flow, both from the standpoint of valuation (P/CF) and risk (D/CF). Very difficult to fudge operating cash-flow. That said, I 've been buying some juniors lately, and I must admit that this reserve thing has me a little spooked.