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

To: HAZ who wrote (4708)	2/20/1998 8:23:00 AM
From: HAZ	Read Replies (1) \| Respond to of 24921

Kerm / All / Numac It appears that Husky is hunting for undervalued O&G assets or companies to increase heavy oil feedstock into their 100% owned Loydminster Heavy Oil Upgrader. They are also planning to increase the refinery's capacity as well, so why process third party heavy oil for a fee when you can process more of your own heavy oil and turn it into higher priced light stuff. Why would Numac be a takeover candidate 1 - they own or control large land base in Sask. (acres ?) which is med. to heavy oil 2 - They are also controlled by Chinese company 3 - They are expanding Nat Gas in NE BC at good rates 4 - I'm assuming share price trading at a discount to NAV Sorry I don't have the facts & figures handy and I'm going from memory which is failing in my old age. Numac is about value and it is IMHO a definite takeover candidate if the current owners are looking for an out and I assume they would offer their shares first to their kind. This may sound prejudiced but it's life. Cheers and good investing

To: HAZ who wrote (4708)	2/22/1998 10:19:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 24921

HAZ / Mustard & Catch-Up time Been so busy lately and am now just trying to catch up on replies I owe people. I agree with you on Alberta Energy. The company is near the top in terms of quality of which one can relate to production, reserves, land and etc.. They stay focused and I like that. I also like their firm stand on maintaining production 50/50 between oil and gas. Natural gas percentage of production will increase over the next two years. I don't know what is up at Numac. I do know that activity in 1997 has set them up for good growth in 98 and 99. The one thing they have to improve upon is their debt status. I don't see shares in the company reflecting dynamic growth, just a solid year to year improvement over the next few years. Numac has been shun by the investment community over the past few years and I think that will begin to change. You mentioned Richland Petroleum. I like the company a lot. However, I suspect companies dominant in oil production are prone to further share price deterioration over the next few weeks. That comment is based upon the assumption that this Iraq situation will cool off. I will be a buyer in this situation if such is the case. In this scenario, I like oil over gas. Here's a few names that don't surface much in conversation, but do interest me quite a little; Richland Petroleum, Upton Resources, Maxx Petroleum and Beau Canada Exploration. Any further weakness in share values make these downright attractive for purchase. Stepping up a notch, Northrock Resources and Tri Link Resources are in same situation.