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

To: Serge Collins who wrote (6051)	2/18/1999 7:54:00 AM
From: Craig C	Respond to of 24892

Kerm - REL Hopefully all of you are wrong on your assumptions on the price. I don't follow every trade of REL but has anyone noticed what First Energy is doing. Are they not the ones who shopped the comp. around. My calc. for what there worth. At a $3 price the buyer would get... 25 million shares @ 3 = $75 million for the stock debt is at 287 million ?? Takeover cost $362 million Cashflow - $1.00/yr (was .36/sh in Sept98 quart) Proven Reserves 71 MMBOE Production 18,700 BOPD So you get REL for 3x CF at todays oil prices Proven Reserves at $5.10 Flowing barrel at $19,360 These oil deals just keep getting cheaper. When oil recovers ?? you can bet your mother-inlaw that the oil anaylst experts won't be using $3 x cf targets when pricing the value of there buy recommendations.Here's hoping REL gets more...