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

To: Lorne Larson who wrote (6028)	2/13/1999 1:21:00 PM
From: Richard Saunders	Read Replies (1) \| Respond to of 24892

Lorne/ drilling numbers, general sector CF, etc. Tomas posted a decent overview article a little while ago #reply-7647986 Your AEC ponders make sense but will they make cents? Insiders lightening some positions, capital program being eased back, more sector companies facing bankers' wrath, general disdain by some funds who recently paid hard dollars to buy stocks that are now worth considerably less, etc., etc. As a blurb I noticed this past week indicated, "AEC remains a core investment in any serious o&g portfolio" however rating assigned was ACCUMULATE. Suspect there's still some tough slogging still ahead for a few (or more?) qtrs. Also hunch that the drillers, such as Precision Drilling, will possibly give an indicator when more spending and activity will return to overall sector. Bottomline? - I don't know.

To: Lorne Larson who wrote (6028)	2/14/1999 2:11:00 AM
From: AL R	Read Replies (1) \| Respond to of 24892

Lorne / Numbers Having the damdest time getting anywhere on SI today. I thought I had some numbers for Canadian Rig. Couldn't find a break down for Gas and Oil rigs. I though bakerhughes had them. As the post Richard refers to, 60% of the rigs were drilling for gas as opposed to 60% drilling for oil last year. My take is that companies are focusing on gas. Programs have been cut, but mostly toward oil. AEC is trading at approx. 7.5 X cash flow (not cheap in this market)and loosing money (-$0.14 per share). Debt was close to 2 X cash flow (not bad). Sorry can't be of more help. Al