Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kerm Yerman who wrote (9572)	2/18/2003 10:09:51 AM
From: Richard Saunders	Read Replies (1) \| Respond to of 24921

Kerm, not really trying to belabour point but re-check your 22% increase assumption re: DXI -- I think you'll find that the numbers I tossed out include the proposed additional spending (and cashflow?). That's also one issue that I have with companies that like to bandy about numbers stressing percentages rather than giving raw factual numbers. Makes for a few extra challenges when trying to create models, etc. That said, currently holding a position & also do view the NWT position as an "asset" that may be worth some percentage more down the road....... Happy hunting.

To: Kerm Yerman who wrote (9572)	2/19/2003 9:21:21 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 24921

Canada Natives Get Tentative Pipeline Funding Deal Wednesday February 19, 2:23 pm ET By Jeffrey Jones CALGARY, Alberta, Feb 19 (Reuters) - A native group seeking a stake in a C$4 billion ($2.6 billion) Canadian Arctic natural gas pipeline has reached a tentative deal to fund its share, although the project's other partners have yet to agree to it, the chairman of the group said on Wednesday. The Aboriginal Pipeline Group has been searching for money to fund a one-third share of the proposed Mackenzie Valley Pipeline, which under a 15-month-old agreement with oil companies is necessary for the partners to proceed. It has been widely reported that TransCanada PipeLines Ltd. has agreed to provide cash to the northern aboriginal people in exchange for the right to build the line, although Canada's biggest pipeline firm declined to discuss the issue. "Our negotiating team has reached a tentative agreement on the terms of an arrangement under which the Aboriginal Pipeline Group can secure financing for its participation in and ownership of the proposed Mackenzie Valley natural gas pipeline," APG Chairman Fred Carmichael said in a statement. "The tentative financing arrangement includes funding for the project definition of the proposed pipeline." Project definition costs for the Inuvik, Northwest Territories-based APG are C$70 million. The deal requires approval by the proposal's industry partners, led by Imperial Oil Ltd., a process that could take take weeks. Imperial and partners Shell Canada Ltd., ConocoPhillips and Exxon Mobil Corp. are moving toward filing applications for the line, which would snake down the Mackenzie Valley in the Northwest Territories, sending as much as 1.9 billion cubic feet of gas a day into the North American pipeline grid. The firms discovered vast gas reserves in the Mackenzie Delta region of the Northwest Territories as far back as the 1970s, but costs and native land claim issues were roadblocks to a project. Now, dwindling traditional supplies and rising demand and prices across the continent have provided impetus to proceed, and the proposal is seen as having the edge over a more expensive competing project to tap gas reserves in Alaska. Under an unprecedented memorandum of understanding signed by the oil companies and northern aboriginal people in October 2001 the APG must have ownership. Ottawa has since denied requests for government loan guarantees. Carmichael stressed the tentative deal must be consistent with the terms of the memorandum. Imperial has said the APG has the right to secure financing from any source it saw fit, but cautioned the producer group did not support any deal under which a third party had influence over the consortium. The producers are waiting for the APG to nail down funding before filing a "preliminary information package" with regulators as a precursor to a full-blown application. The partners have said the earliest a pipeline could be in service would be 2007. Canadian Minister of Indian Affairs and Northern Development Robert Nault last week established a "Pipeline Readiness Office" involving several regulatory bodies to deal efficiently with any Arctic pipeline applications.