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Gold/Mining/Energy : t. upton resources -- Ignore unavailable to you. Want to Upgrade?

To: menanna who wrote (5)	10/22/1997 5:04:00 PM
From: Method	Respond to of 86

I have also heard rumblings that Upton should make a move to $11 within a year. This based on projections of trading at 6X cashflow. I think the downside is limited and that this stock is a definite buy.

To: menanna who wrote (5)	10/22/1997 9:53:00 PM
From: Curly1	Read Replies (2) \| Respond to of 86

UPTON RESOURCES (URT:TSE $6.90) The company issued the following release on Thursday. If they exceed the 6000 barrel mark by the end of the year, they will exceed our targets in which we felt a very fair valuation should put the stock near the $10 + range. If the company continues their successes throughout 1998 we have heard a $15 to $20 price is reasonable to expect. >Current production has increased to over 5500 barrels per day. Recent >improvements at Midale and the startup of new exploration wells at >Browning, Brush Mountain and Wildwood all helped to push the daily volumes >higher. Upton's production includes the purchase of additional working >interests in its Gainsborough East pool of approximately 200 barrels per >day. >Upton is currently completing a 100% horizontal well at Gainsborough East >and a 42.5% Frobisher well at Midale. Current drilling operations are at >Alida and Gainsborough. For the balance of the year, drilling at Midale, >Gainsborough, White Bear, Wildwood and Tracey Mountain, all Mississippian >targets, is expected to increase oil production to well over 6000 barrels >per day by year end.