Natural Resources >> Sector Roundtables >> December 15, 2003

Roundtable Forum: Canadian Energy

TERRY PETERS, Oil and Gas Analyst at Canaccord Capital Corporation, is responsible for Canaccord's research on large cap Canadian oil and gas companies. He brings over 15 years of experience as an analyst in the oil and gas sector, and has held senior positions in a similar capacity with HSBC Securities, Griffiths McBurney, Loewen Ondaatje McCutcheon, DFI Securities, and Burns Fry Limited. Prior to entering the investment business, Mr. Peters was employed in the oil and gas industry as an engineer with Norcen Energy Resources in Calgary and Toronto. Mr. Peters graduated with a Bachelor of Mechanical Engineering and Management from McMaster and holds an MBA in Finance from the same university. Profile
STEPHEN CALDERWOOD, Senior Vice President of Raymond James Ltd., joined the firm in April 2003 and covers oil and gas producers and exploration companies. He has approximately five years of experience as an equity analyst with another investment dealer. Prior to entering the investment industry, Mr. Calderwood began his career in 1983 in the oil and gas industry as an engineer with BP Canada, and later held positions with Talisman Energy and NCE Resources Group. He holds a BSc in Chemical Engineering from the University of Alberta (1983), an MBA from the University of Strathclyde in Glasgow, Scotland (1992), and is qualified as a Professional Engineer. Profile
TWST: Terry, what has gone on from an operating point of view in the

Canadian energy group so far this year?

Mr. Peters: The industry has had to cope with declining natural gas

price