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

To: Lorne Larson who wrote (5590)	11/16/1998 7:30:00 PM
From: Syncrude	Read Replies (2) \| Respond to of 24925

If you read today press release from Blue Range, it would appear that they have done it again! The NPV calculation does not specify if the probable reserves were risked adjusted or not. I would think that they were not. This does NOT demonstrate superior management. Over inflating NPV shows why the Company is way overdue for a management change. Not sure if I want the Big Bear team either. They say they are after at least 35% of the shares, but don't specify it they count the 33% already committed! Big Bear also has a HUGE number of shares outstanding (58.7mm plus pfd shares plus ? wts/options) which would grow even much much higher (over 425mm shares!) if they can bag 100% of BBR. This would strongly suggest a share consolidation ....and we all know what that usually spells! Cash flow per fully diluted share is down as with many other companies.