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

To: Ally who wrote (5585)	11/16/1998 4:49:00 AM
From: Kerm Yerman	Read Replies (2) \| Respond to of 24922

Ally / Canadian Natural Resources & Poco Petroleums In regards to evaluation between the two, whose report are you referring to and, what are the numbers listed. Both these companies are fine oil and gas operators. Both have released their 3rd quarter reports and further, both were surprising on the positive side - doing a bit better than expected by analysts. The make up of the companies differ. CNQ is weighted towards oil and POC is weighted towards natural gas. In regards to CNQ oil properties and reserves - a high percentage involves heavy oil. I think there is near term downside potential in shares of both companies. Much more so with CNQ. I think good entry points for POC is less than $13.50 and CNQ at less than $25.00. THESE ARE MY CASH FLOW NUMBERS Poco Petroleums (ACCUM) 11/13/98 $14.60 Price Target $18.60 Upside 26.7% Cash Flow 1997 1998 1999 per Share $ 2.51 $ 2.30 $ 2.75 Growth XXXXXX -08.4% +19.6% CF/P 6.35X 5.12X Asset Value 1997 Yr End $ 8.74 P/NAV 1.67X ------------------------------------------- Canadian Natural Resources (HOLD) 11/13/98 $28.80 Price Target $31.00 Upside 07.6% Cash Flow 1997 1998 1999 $ per Share $ 4.92 $ 4.60 $ 5.80 Growth XXXXXX -06.5% +26.1% CF/P 6.26X 4.97X Asset Value 1997 Yr End $20.96 P/NAV 1.37x