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

To: stan_hughes who wrote (9301)	9/30/2002 11:03:09 PM
From: SofaSpud	Read Replies (1) \| Respond to of 24910

Point taken.

To: stan_hughes who wrote (9301)	10/1/2002 7:38:41 PM
From: Richard Saunders	Read Replies (2) \| Respond to of 24910

General observation -- somebody seems to have a few dollars to buy some inventory of oil&gas stocks. Not sure if it's imagined and don't have specific numbers to back it all up but within the last month or so quite a few financings have become visible. Some of the dollars appear to be heading to situations with re-grouped mgmts. trying to repeat past efforts. Some of the dollars are designated for drilling via the flow-thru placements. Generally (today's move excluded) the overall market has been eroding value out of many shareholders' accounts for the past several months, heck how about a couple of years if the tech bubble is considered. Still, some situations in the oilpatch appear to be able to raise financing dollars including a fair number of bought deals. Interest too as judged by posts on this thread over the past month or so is saying something. Where is this leading? Possibly the m&a game will once again become in vogue or will the dollars be spent through the drill bit? Could get interesting this winter in drilling land........ so far it doesn't appear that oilpatch service situations have ability to extract higher pricing. Utilizations of the servicers also haven't been great over the past qtr., ugly in fact. 3Q numbers should paint that picture quite clearly however that's also probably rear-view mirror thinking and the market tends to look in the other direction. Interesting days ahead? Somebody must think so given the financings or is it more of a case of taking advantage of pulling a few dollars out of the cookie jar while some wallets appear receptive? I don't know. In no order and by no means a complete list but here are some of the names noticed recently that would appear to account for over $200,000,000 of new paper...... EEE Cdn. 88 - $60MM bought financing. CIBC lead. PGX Progress - $25MM bought. Peters lead. VEL Virtus - just over $5MM bought. First Energy lead. BEC Belair - $5.5MM with Canaccord and National Bank lead. Celtic (Desco DSX incl. ex. GEX names) - $3MM insider p.p. Advantage Energy Fund - $55MM convert. debenture. Scotia lead. Funds appear to be for the $52MM takeover of BPG Best Pacific. CPG.a Crescent Point - just over $10MM. Yorkton lead. BVI Blackrock - $13MM bought deal. Griffiths/Yorkton/Sprott. SHR Shaker - $4.3MM insider manouvers p.p. and debenture. TMY.a Tempest - just over $7MM bought deal. Griffiths lead. AVR Aventura - $12MM bought deal. First Energy lead. Viracocha Energy - $7MM in July. Suspect others are also in the works....... something to ponder?