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Gold/Mining/Energy : Pan East Petroleum PEC-TSE Several Projects Starting -- Ignore unavailable to you. Want to Upgrade?

To: Keith Utz who wrote (40)	12/16/1997 10:08:00 AM
From: HAZ	Read Replies (1) \| Respond to of 73

Keith, truethfully I have to re-assess the stock myself and decide to hold or dump. I've been sitting on this one ever since I bought in at 4.00 range and it's been downhill ever since. In general they have the financing in place for 1998 capital expenditures and they have some very promising properties, so I don't see any more downside on this one but you never know in this market. It only takes one 50 - 100 BCF gas discovery and the stock will trading back at 3.00 before you know it, so one never knows. I still like gas prospects over Oil in the medium to long term, especially when new pipeline capacity to the US starts up in late 98, that should boost gas prices to over 2.00 CND. In the near term, gas prices are weaker due to weather conditions in Canada and US but I still believe that gas supply market is tight and any decerase in temps will have an immediately effect on spot gas prices. It seems everyone has given up on Pan East, even Wildcat Willy who recently took it out of his portfolio. This management team will be working overtime to get back their reputation so it may be worth a few bucks if you don't mind investing in a nervous market. Let me knwo how you do. Cheers and good investing