Stock Profile: Bonavista Petroleum Symbol: BNP (TSE)

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Stats as of 4/20/01

• H/L Ratio: 1.68 • RS: 89.0 • Shares: 28,571,475 • P/E: 15.56 • Price: $33.60

Other Profiles

• Profile Index • Akita Drilling • Stantec Inc.

Bonavista Petroleum is a junior oil and gas exploration and production company with head office in Calgary. Its primary focus is natural gas.

The year ended Dec. 31, 2000 was the third consecutive year of strong growth in revenues and profit for the company. In fact, Wright Investor's Services notes that it outperformed three comparable companies - Baytex, Genesis and Chieftain. This is reflected in the higher P/E the market gives the company. That said, there seems to be substantial room for growth.

The company has a strong focus on profitaibility and cost control. Its exploration activities have led to increased reserves - replacing annual production by 2.8 times on a proven basis and 3.5 times on a proven plus probable criterion. The company also increased its undeveloped land holdings by 54% for the year.

The company drilled 134 wells in 2000 with a success rate of 84%. The company operates 96% of the successful wells with an average working interest of 90%. Bonavista has also grown through strategic acquisitions of properties.

The company intends to drill in 160 locations for 2001.

Unfortunately, the company does not maintain a public website.

Quarterly Earnings per Share

Annual Earnings per Share