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Gold/Mining/Energy : Tusk Energy (TKE) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (515)	5/27/1998 7:57:00 AM
From: grayhairs	Read Replies (1) \| Respond to of 1207

Richard, I attended only the TKE presentation at the SEPAC sessions. Norm's presentation focused more on where their "growth" will come from in '98 and '99. He did mention that at Meekwap they have cut operating costs 25% from last year, that their Meekwap Unit Overhead income serves to offset a good portion of corporate G&A, that their '98 netback has averaged $15/bbl and that by bringing on more "new" production in '98 they are also increasing their ARTC stream. He presented a '98 cash flow projection of "as high as" $0.50/share with only minimal additional '98 Meekwap success. His presentation was excellent but it IS difficult to touch on all of the detail when you only have the floor for 20 minutes!! Later, grayhairs P.S.- My personal expectations are lower!!