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Gold/Mining/Energy : Westfort Energy Ltd. (WT-T) -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Forthright who wrote (659)	6/27/1998 1:39:00 AM
From: bhg	Respond to of 1288

Mr. Forthright, I don't think the venture capital firms have bought anything yet. At least the one in New York hasn't. I did talk to a partner at another venture capital firm today about WT. The man is intrigued but the firm won't invest unless they can get WT "at a price". I told him "Good Luck!" But He may buy some next week. He wants to look into it himself. I do know two partners at venture cap firms in NY that put a couple of hundred thousand into WT and I put four new clients into WT. But that was earlier in the week, NOT today. I think the new buyers were individuals from Europe who were at the site this week. I believe they are "players" because the people I do business with don't do day trades; especially on speculative stocks. I have never done a day trade myself...although sometimes I wish I had. The people I have knowledge of want "real" profits and you can't get that on a day trade of a stock that usually trades only a couple of hundred thousand shares a day. They will put in a lot of money and be willing to wait for their return. US$2 billion(these are resources in the ground-according to Whitney): 100+mm bbl @ $15/bbl plus 300+ billion cubic feet of natural gas is worth $2+ billion. Dividing that by 35mm shares gives you $57 per share. But please don't think of this as a target price. This is only to give an indication of the value. It is not a price per share. I wouldn't be surprised to see it go to $30 but with the problems with OPEC and the oil glut and the overproduction who can tell? Oil prices may go lower but I don't think they will stay there. I think $15bbl is very reasonable. But if they do go lower the fact that it costs WT less to get the oil out of the ground is a major plus. Thanks, BHG