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

To: Kerm Yerman who wrote (4787)	3/5/1998 10:28:00 PM
From: david james	Respond to of 24921

Kerm, A lot of us long term holders were disappointed by earnings in Eco today (ECGOF). I can't avoid that. The CEO, Mike McGinnis, had stated earlier in the year and through the 4th quarter that he was "confortable" with the $1.20 in First Call (Zachs estimate was $1.06). So they came in with $1.08, which is 33% growth over 96 and we have a stock that is currently trading at a P/E of 9. Despite the fact that it is "terribly undervalued" it will sell off tomorrow because many were expecting 50% growth. It will almost certainly have a good bounce, since almost any negative reaction is an over-reaction. I personally think the CFO messed up here. If they replace him - soon- the stock will improve. Sounds like the new auditors did not like the way he was dealing with taxes and/or the dilution from earlier in the year, so came up short. So perspective from the outside would be appreciated. Thanks, David