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

To: gord who wrote (5686)	12/8/1998 2:57:00 AM
From: Richard Saunders	Respond to of 24905

Gord - Compton tho'ts. Quick glance at news release seems to indicate a gutsy little move - just under $100mil transaction to p/u 5500 boepd and 13mil boe reserves. Prior to move CMT was doing somewhere around 4,300 boepd and had approx. 21mil boe proven & 50% probable reserves, something like 95% natural gas & natural gas liquids. It appears that the production being purchased is approx. 63% gas. IF one believes that natural gas prices are on going to end up on the optimistic side of the page then Compton probably is an interesting situation, even more so than before the transaction. To date they've had decent successes and appear to be an efficient operator (imo).