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

To: bill who wrote (4890)	4/6/1998 11:48:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 24916

bill / Westfort Energy I don't follow WT. The company has a market capitalization of almost $50 million and I don't really see much of an asset base coming close to that number. The company has re-entered wells in the Norphlet Field and I can't find any results in terms of production. Are you aware of production numbers? In regards to the well to be drilled prior to June 1st - it looks as though the company is banking its future on this drilling. Speculators have pushed the stock to 10X share price of 6-8 months ago. If well is not productive, you're probably looking at a $0.50 stock at best. In regards to the reserve estimate, it's less than the estimate the company expressed last October. The comments that it probably exceeds the reserve report just brings the total reserve number back to the original estimate. The comment about being the largest on-shore field in the Gulf area is a red flag to me. There is too much speculation built into the share price. Beware of any "hang in there" stories if the first well comes up short of expectations. At the peak of speculation, anytime now, you might want to consider reaping the rewards of profit taking and retain a minor position in the company. In my opinion, the company has a long way to progress to justify current share price. KEEP IN MIND - just one man's opinion.