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

To: Kerm Yerman who wrote (4765)	3/3/1998 9:01:00 AM
From: Npoggio	Read Replies (1) \| Respond to of 24921

Mr. Yerman, can you please tell me if PD is heavy into gas drilling? Do land drillers drill for both oil and gas or due they specialize in a particular one? Sorry for the novice questions. Still learning. Thanks in advance.

To: Kerm Yerman who wrote (4765)	3/3/1998 9:43:00 AM
From: Goldberry	Read Replies (1) \| Respond to of 24921

Kerm/Haz/ re Gulf Canada/Talisman Noticed the following recently but have not seen any comments in papers etc. concerning it. What are your thoughts on this? Reading between the lines it appears that Buckee is appearing to open the doors for discussion. Friday February 27, 7:24 pm Eastern Time Talisman CEO says Gulf would be a good fit By Jeffrey Jones NEW YORK, Feb 27 (Reuters) - Talisman Energy Inc [NYSE:TLM - news] Chief Executive Jim Buckee said on Friday that Gulf Canada Resources Ltd's (NYSE:GOU - news; GOU.TO - news) assets would make a good fit with his company, although no merger discussions between the two were currently under way. ''Plainly, we'd be good people to operate the assets,'' Buckee told reporters after a presentation to analysts and investors at a conference here. Gulf Canada rose 0.25 to close at 8.35 on 1.5 million shares on the Toronto Stock Exchange on Friday. Earlier this week, rumors circulated through Canada's energy and investment industries that Talisman was considering a takeover of Gulf, which has launched an C$850 million asset disposition program under new Chief Executive Dick Auchinleck. Talisman and Gulf operate together in several regions around the world, including Canada, the U.K. North Sea and Indonesia, where the two are partners in the Corridor Block gas project. Buckee said Talisman did not favor Gulf's strategy, implemented by former Chief Executive J.P. Bryan, of running the company as a corporate ''hub'' with semi-autonomous divisions, or ''spokes.'' He said he would consolidate operations in Talisman's fashion if the assets were under one corporate umbrella. A major concern for Talisman in a takeover, however, would be Gulf's C$2.8 billion debt load, which has long been a millstone for the company, he said. Gulf's asset sale program, which includes the spinoff of its Canadian gas gathering and processing assets into an income trust, plus the sale of non-operated U.K. North Sea properties and various non-producing assets in Canada, was aimed at cutting debt after three years of acquisitions. Auchinleck said last week Gulf aimed to reduce its debt-to- cash-flow ratio to 2.5 times from 4.7 times within the next 12 months. After his presentation in New York on Friday, Auchinleck said he said he believed Gulf's net asset value was in the range of C$12-C$15 a share, but the company had been trading well below that because of its high debt levels. He told reporters he had not heard from Talisman on the prospect of a merger, but believed there may be several ''sharks'' circling Gulf. When Gulf announced its divestment plans, it said it implemented a poison pill to protect shareholders in the event of a takeover bid by extending the time to evaluate and offer to 45 from 21 days. ''I just want to make sure we don't get this company stolen from the Gulf shareholders,'' Auchinleck said. One of Talisman's key tenets under Buckee is that ''size is good of itself.'' One of its goals is to double oil and gas production within five years. Talisman's production for 1998 is forecast at 240,000 barrels of oil equivalent a day, up from about 200,000 in 1997. Gulf, meanwhile, expects to produce 204,000 barrels of oil equivalent a day this year, up from 180,000 in 1997.

To: Kerm Yerman who wrote (4765)	3/3/1998 12:09:00 PM
From: Scott Mc	Respond to of 24921

Kerm, CdnStockwatch has an extensive list of press releases including various newspaper articles. I recently subscribed to their free service where they will automatically notify you of press release, however also whenever you request a quote, as part of the quote they list the latest news release, that is where I saw this Maxx release, with Maxx listed on the Amex now I thought I would see it in the US, but only place was at Cdn Stockwatch so not sure if it's bogus or what. No I haven't followed up with any service or the company about it. Scott