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

To: Serge Collins who wrote (4179)	11/19/1997 1:46:00 PM
From: SofaSpud	Read Replies (1) \| Respond to of 24935

Serve / Newport Q3 earnings came out last night. Evidently they are not considered especially favourable. I saw a brokerage report downgrading NPP from a BUY to a HOLD, on the basis of a less promising short-term outlook. The sell-off in service stocks doesn't seem consistent, does it? Sure they got ahead of themselves -- look how fast e.g. Prudential Steel ran from $40 to $80. If they got ahead of themselves and priced in a couple of year's extra earnings, it's reasonable they should correct. BUT - everyone is still saying that you need more gas well completions than have ever been recorded to fill the pipes. If you really are going to have 15,000 or 16,000 wells drilled next year, the service firms should have a windfall. Does this mean that the market doesn't think the drilling will happen, because of weather or something else? Something is wrong here.

To: Serge Collins who wrote (4179)	11/20/1997 11:39:00 AM
From: RIK	Read Replies (1) \| Respond to of 24935

Serge / NPP Hi Serge, NPP got whacked because it was not a take-over candidate at a premium to its $7/share price. At $4.50 its back in play! Timing is everything........prudent investors bought in at $4.50 and will sit back and wait on the results of the winter drilling program. If they hit on one of their 'elephants' the stock will take off ; if they bomb look for a T/O at a good premium to $4.50. [ IMO theres a chance somebody might try to steal them in the $6 range]