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

To: mike smith who wrote (5117)	6/1/1998 12:45:00 AM
From: Richard Saunders	Read Replies (1) \| Respond to of 24921

Mike - you're textbooks beyond where I'm at with the net asset value stuff. Thanks for detailing some of the issues, greatly appreciated. Have you seen any industry studies that would possibly give "reasonable" ranges for discount or premium depending upon such things as market cap., oil:gas production mix, flowing production, debt leverage, etc.? If so, where would one track some industry benchmark things down? I realize that such a list would be a bit goofy because of the various difference you were indicating and they way apples are compared to apples, etc........ I'd like to know the industry avg. discount to net asset value that a 200 boped producer could be expected to trade at as well as 1000 boped, 5000 boepd and 10,000 boepd, etc. Cashflow averages seem to be discussed by the various peer groups but I've never really seen the same sort of grouping for NAV. Possibly on a tangent?.........

To: mike smith who wrote (5117)	2/24/1999 12:18:00 AM
From: Richard Saunders	Read Replies (1) \| Respond to of 24921

Some repeats - Timely Topic - Net Asset Valuations. Last April & June a couple of helpful posts regarding Oil & Gas Reserve Evaluations ( #reply-3995847 ) appeared. A further followup also was posted at #reply-4665908 . With recent concerns re: heavy debt, especially related to cash flows and underlying assets, etc. the couple of linked posts would appear relevant. Also noticed another cdn. brokerage has eased off again on '99 & '00 WTI estimates - $13.50us & $14 (levesque).