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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (34292)	8/10/2004 4:32:42 AM
From: energyplay	Read Replies (1) \| Respond to of 206272

better than ROYL right now - TMR riskier - TRGL ATPG maybe GASE

To: Paul Senior who wrote (34292)	8/10/2004 11:27:22 PM
From: Spekulatius	Respond to of 206272

re ROYL & EP's I did recently buy PCZ (Petrocanada), based on valuation metrics (PE, P/CF, reserve value) this stock seems cheaper than other integrated oil companies. After a customary look into reserve values stated in 10k's and some brokerage records, it seems to me that SGY and SFY are undervalued. For example based on SGY 19k the NPV of SGY's reserves was 2.38B$ (before taxes) which is way higher than the current EV of 1.45B$. SFY looks even better by this metric -Swifts reserves are valued at about 1.5B$, which is a substantial discount from SFY's current EV of 880M$. Of course there are other considerations, when looking at an E&P (exploration , costs, reserve replacement etc.). Both companies look OK in those regards, IMO.