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

To: AL R who wrote (5930)	1/26/1999 12:30:00 PM
From: Geoff Trueman	Read Replies (1) \| Respond to of 24925

All / Canadian Hunter Canadian Hunter recently released their financial results for the 1998 fiscal year. They produced an average of 37,040 BOEPD (75% gas, 15% NGL, 10% oil) with revenue of $265 million, cash flow of $155 million and earnings of $25 million, all on about 60 million shares outstanding and just $150 million in long term debt. Shares are currently trading at about $10.25. Compare these numbers to its peer group of gas weighted producers such as RAX and POU and it looks as if HTR trades at a significant discount -- whether on a straight cash flow multiple or more noticeably on a debt inclusive market cap analysis. One reason for the modest valuation could be the controlling interest of Edper Brascan, but EDP have shown before that they will do what it takes to maximize shareholder value. POU also has a controlling shareholder but has managed to attract a premium valuation. Just wanted to make these few comments and alert every one to an interesting situation. Also noticed that PCP sold forward a huge amount of gas production for 1999 (about 45,000 BOEPD at $2.50). Hope that other gas producers are equally smart.