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Gold/Mining/Energy : International Rochester Energy Corp. (T. ROH) -- Ignore unavailable to you. Want to Upgrade?

To: MF who wrote (814)	5/6/1999 10:32:00 AM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 934

MF, doesn't this take the ROH debt away, the reason for the previous decline? You may have the potential stock price estimate too low IMO. PS, is the stock currently halted?

To: MF who wrote (814)	5/6/1999 10:50:00 AM
From: Casey	Read Replies (1) \| Respond to of 934

MF: << My calculation on this transaction: 2.6 mill X US$2.25= 5,850,000 X 1.5 = CDN$8,775,000 8,775,000 + 1,400,000 = CDN$10,175,000 $10,175,000 / 8,900,000 shares = CDN$1.14 / share Closed Yesterday @ CDN$0.44>> you should use an exchange rate of 1.45 $CDN / $US. Also, where did the $1,400,000 CDN come from in your calculation?

To: MF who wrote (814)	5/7/1999 7:34:00 AM
From: Ed Ajootian	Read Replies (2) \| Respond to of 934

MF, Let's not forget about the notes. What was the amount of those, $5.5 mm? If so the book value is C$.53 a share. Then you gotta discount that a bit for the fact that the HEC stock is probably subject to a lockup provision for awhile. The comment about getting into the Western Canada action perked my ears up. I believe Alberta gas is becoming one of the most economic plays out there right now. The finding costs have always been low; now with the new pipelines coming in, all pointed toward the high-demand areas of the US, there's someone to sell the gas to. I'm definitely keeping this puppy up on the radar screen.