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

To: Goldberry who wrote (5624)	11/30/1998 12:09:00 PM
From: Kerm Yerman	Respond to of 24927

Graham / Probe Exploration I was about to say I thought Probe would approach its 12-month low and would be an outstanding intermediate holding at that price. I just looked for a quote and apparently the market reaction to Probe's report is negative - shares are down 15%. Based on the previous revisions to cash flow and production, they are performing okay. There hasn't been any disappointments in their activities - just delays. They have fallen about a quarter behind. I still consider shares as a good buy @ $2.25 or less. During the Iraq crisis, I mentioned that the entire energy sector was sitting itself up for another correction. It's happening, and I further believe we're only half-way through it. Since then, the index has fallen 8% and I'm looking at a total of 15%. So, you might want to wait for further weakness in shares of Probe.