Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Syncrude who wrote (6083)	2/24/1999 11:43:00 AM
From: VisionsOfSugarplums	Read Replies (1) \| Respond to of 24921

REL - agree that the break fee is hefty. I think that concern over reserve reports will be reinforced - apparently has been driving some drops in oil and gas stock prices lately. Does the REL price per boe establish some sort of valuation ratio to be used looking at other companies with debt? (Obviously, more factors involved in valuation). Makes you wonder. REL had a reserve report from Sproule dated October/98 that showed reserves (proven & 1/2 prob) at a 15% discount equal to approx. $6/share after $330 million debt. Four months later the value is $1.90 a share, 67% less? This came from their prospectus for the convertible debenture issue, which would have been signed off on by Sproule. I would expect some sort of fallout from this. Regards, t.

To: Syncrude who wrote (6083)	2/24/1999 11:47:00 AM
From: SofaSpud	Respond to of 24921

Syncrude / Financials You've hit the nail on the head. Some of these latest "surprises" shouldn't have been surprises at all, if the reporting were appropriate. All of a sudden it seems like a crapshoot -- you read the latest quarterly report and the situation looks like its under control; then the insiders sell the bottom out of the stock, and then the rest of the world learns that the company has gone to hell in a handbasket. You're right -- it looks like bush league VSE stuff.

To: Syncrude who wrote (6083)	2/24/1999 11:53:00 AM
From: mick	Read Replies (1) \| Respond to of 24921

This REL Deal is Outrageous What the heck is this 12 M$ breakup fee? A way of lining each others pockets? Who is Dominion? Brother in-law of Paul Baay? No way in hell should this deal go through. It also appears from trading that insiders were slowly dumping with knowledge of what the final offer would be. I am amazed - not that this happens, but this can be so blatant. This deal is so bogus. According to the press release in NOVEMBER 23,1998, they still had the cash flow to service the debt. This one stinks so bad, its not funny. I will wait for something better. The board better tell what those certain circumstances are for this 12 M$ fee.