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

To: Dave Fong who wrote (4949)	4/15/1998 7:42:00 AM
From: Craig C	Read Replies (1) \| Respond to of 24921

KERM / Maxx Pet. Had Maxx for past 4 yrs. The share consolidation has to be more about satisfying institutional investor , who it seems like a higher priced stock. Maxx has to be trading below 4xCf even at these low oil prices. Maxx is involved with Newport on a well in B.C. at 15-07-88-18 W6. Also involved with Canrise on a well licenced as a new pool wildcat at 6-22-43-8 W5 in AB. Both wells have not drilled yet. Hopefully Maxx is trying to farmin on gas targets.

To: Dave Fong who wrote (4949)	4/15/1998 6:24:00 PM
From: Kerm Yerman	Read Replies (1) \| Respond to of 24921

Dave / Probe Exploration Comments at Kerm's Korner March 23, 1998 (GORDON CAPITAL) Probe Exploration (PRX-T: $5.00) STRONG BUY Reserve Report Confirms Success At LeducProven and risked probable reserves, measured at year-end 1997, were 37.0 mmboes vs. 16.7 mmboes in 1996 - well ahead of the 28 mmboes we had been forecasting. Between July 31, 1997 and December 31, 1997, Probe increased the reserves attributed to the assets acquired at Leduc from 2 mmboes to 16.8 mmboes. Over the same period, production from these assets was increased from 1,900 boe/d to over 8,000 boe/d. Currently, Probe's firm wide production is over 11,000 boe/d. Given the recent successes experienced year-to-date in the Wabamum, Nisku and Sparky formations, we estimate that Probe may already have added an incremental 5-10 mmboes of reserves. Medium and heavy oil reserves represented less than 16% of Probe's overall reserve base, with light oil representing 38%, and natural gas and NGL's representing 46%. Based on the new reserve report, our estimated NAVPS is now $4.00 up from $2.80. Probe will release its year-end 1997 financial results in 2 - 3 weeks time. We reiterate our STRONG BUY recommendation on Probe with a 12-month stock price target of $8.00.