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

To: Kerm Yerman who wrote (4005)	10/31/1997 12:40:00 AM
From: paul s.	Respond to of 24933

Kerm/Andrew: Info very much appreciated...I think its a situation worth persuing further...thanks for the phone # paul

To: Kerm Yerman who wrote (4005)	10/31/1997 1:13:00 AM
From: Richard Saunders	Respond to of 24933

Kerm/ the postman delivered some stuff today and a vse Form 61 (Qtrly Report) for Backer was included. Operating cashflow for 6months to June'97 was $429K vs $1,713K year earlier. Haven't looked too deeply and haven't really followed prior posts closely but did notice that company is running two offices (Vancouver and Calgary). Six month revenue for '97 is $2.6mil and general & Admin expense is $486K. Year earlier for the six months revenue was $2.3mil and general and admin was $288K. Also notice that current liabilities are up to $2mil from $1.3mil yr. earlier. Biggest jump is bank loan - $1.6mil at June'97 vs $205K yr. earlier........... Backer averaged 644boe during 1st half of '97 vs. 590 boe in '96. First qtr. '97 production was an indicated 700 boepd. Land position looks interesting......... appear to hold 18% - 50% in over 16K acres and option to earn 18% - 30% in almost 4K acres (gross) in the Darwin area.