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Gold/Mining/Energy : UNDERVALUED CANADIAN COMPANIES -- Ignore unavailable to you. Want to Upgrade?

To: M. Merriam who wrote (242)	11/8/1998 9:38:00 AM
From: Ciao	Respond to of 248

Here's a plug for CCR which just announced great Q3 results this week: CANADIAN CRUDE SEPARATORS INC. ANNOUNCES 1998 THIRD QUARTER EARNINGS BEFORE GAIN ON ASSETS INCREASES BY 261%, CONTINUED RECORD GROWTH CALGARY, ALBERTA-- Canadian Crude Separators Inc. today announced results for the nine months ended September 30, 1998. $000 except where noted Three Months Ended Nine Months Ended September 30, September 30, 1998 1997 1998 1997 Revenue 10,395 7,574 33,065 21,626 EBITDA 3,419 1,973 10,902 6,131 Per share ($) .26 .22 .85 .68 Net Income before gain on sale of assets 1,419 393 4,259 1,927 Per share .11 .05 .33 .24 Net Income 1,419 1,344 4,259 2,878 Per share ($) .11 .17 .33 .32 Results for the first nine months of 1998 continue to reflect the growth of the Company over the last year. Revenue for the first nine months of 1998 was $33.1 million (a 53% increase over 1997). Optimization of existing assets, an expanded fleet of service rigs, the Unity cavern, and two new landfills contributed to this increase. The positive impact of efforts to improve the efficiency of operations is reflected in the increase in EBITDA to $10.9 million compared to $6.1 million in 1997. As a percent of revenue, EBITDA increased to 33% for the first three quarters of 1998 from 28% in 1997. Net income before gain on sale of assets increased by 121% or $2.3 million for the first nine months of 1998 compared to the same period in 1997. Net income increased by 48% or $1.4 million for the first nine months of 1998 compared to the same period in 1997. Results for the third quarter show continued improvement over the same period in 1997. Revenue and EBITDA were 37% and 74% higher for the third quarter of 1998 than for the corresponding period in 1997. Net income before gain on sale of assets increased from $393,000 in the third quarter of 1997 to $1,419,000 in the third quarter of 1998, for an increase of 261% for the 1998 results versus 1997. Dave Werklund, President & CEO, said, "We have had a very successful first nine months of 1998 and our operational results have improved considerably in 1998 versus 1997. This is due to the installation of new facilities, the optimization of existing facilities, acquisitions, and continued high conventional oil and natural gas activity levels which have more than offset the lower activity levels in heavy oil. As well, our successful completion of the acquisition of the assets of Caprice Holdings Inc. and Agassiz Developments Ltd. on October 15, 1998 has increased the number of our oilfield waste processing, emulsion treating and disposal facilities from 11 to 13. This will continue the growth and sustained profitability of the Company and, due to our strong balance sheet, earnings and cashflow, we will continue to pursue growth opportunities in our core business." For further information please contact: Dave Werklund Chairman, CEO & President Ph: (403) 233-7565 Fax: (403) 261-5612 Murray Montgomery, C.A. Vice President, Finance & CFO Ph: (403) 231-1103 Fax: (403) 261-5612