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

To: CIMA who wrote (4432)	1/7/1998 4:24:00 PM
From: Kerm Yerman	Respond to of 24927

CIMA / Belair Energy Yes, I have a few questions. Let me organize my thoughts and will get back to you. Would like to have Richard Saunders give you feedback also. Vic is the one I referred to as having good credentials and I'm sure he is the one to talk with.

To: CIMA who wrote (4432)	1/7/1998 6:33:00 PM
From: Richard Saunders	Respond to of 24927

CIMA/ Thanks for posting and thank you also for willingness to ask questions. Questions I have at the moment are minimal but here goes.... 1. What's likely for '98 capital program? I suspect the budget hasn't yet been firmed, however I know it was going to be finalized this month. 2. Impact of both gas and oil pricing. I know estimates of $1.75/mcf and $20WTI were being considered a couple of weeks ago for '98 assumptions. Has current tho't changed and, if so, what sort of impact will that make to anticipated CF? 3. Timing of when auditted '97 annuals are going to be completed. The auditted financials will be used (cost effective) to prepare a prospectus to qualify shares previously placed in the fall. It would be useful to know when more free-trading shares are anticipated (I realize the reg. authorities have the final say in approval process.) 4. More detail re: current Net Asset Value. Last I dug it was reportedly in the $0.30 to $0.35 range however I don't think that includes any impact from a couple of projects Windstar previously had started. 5. Gen. & Admin. Costs - the merger of Windstar & Belair ended up with BGY moving into Windstar's old office and I believe the staff (receptionist, parttime accountant) are now Belair employees. What is forecasted for G&A and does this include any new hires, etc. That might give some insights. 6. General operating costs. Thanks again for the offer to consider questions and feel free to email, always happy to compare notes.