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

To: Crocodile who wrote (4359)	12/31/1997 6:37:00 PM
From: Francoise Kartha	Read Replies (2) \| Respond to of 24920

OILTEC (OLT-T) chart.canada-stockwatch.com There was a thread started on SI that you may have seen. It probably died of happiness (-; Why tamper with a good thing in good hands? exchange2000.com Oiltec was one of my favorite stocks in 1996 and again in 1997. The company was in a period of aggressive growth. Oiltec had grown from 20 BOEPD in 1992 when it was a private company, to a production exceeding 1,100 BOEPD in 1996. The Company became public on Sept 29, 1993. It is a pioneer in waterflood and infill horizontal drilling and successfully reworked several wells abandoned by other companies. This has been the hedge of its success. Robertson Stephens's interest was announced in the News Release of Nov 22, 1996. The firm was said to have purchased nearly the entire $5 m special warrant financing (NR: Oct 25,1996; Nov 19, 1996) and may own 20% of the Company. It is not currently officially listed as a participant in the Company however, although, since the TSE is not nearly as forthcoming with reports on Insiders as the VSE, it is difficult to know. The Red River wells were expected to have a material impact on the Company's bottom line. So the development announced in that last news release is to be considered carefully. Like any hot area, Red River has been very disappointing to some companies. With only one well deemed uneconomical, Oiltec has fared better than others. When I first did my DD on Oiltec, I talked to Lynn Dudley, Chief Financial Officer. I found her answers very concise and straightforward. Since then, I have received promptly by mail news releases and reports from the Company. I don't currently own shares in Oiltec. The stock has been cyclical and I was not sure that it could keep up the same rate of growth till the end of 1997. I am not quite up to date with the latest developments. I do like the management and the technical expertise. Aren't the companies that make you money is the long run, often those which keep a low profile and mind the shop? PS: Your posts are always good reading. I love the soup. Have a happy, healthy and prosperous 1998! And may you stay out of the dog house ((-: