John StephensonBurlington Resources Inc.BR-NxHOLDMar 30, 2005

Reasonably, fairly valued. Fundamentally a very strong story.

John Stephenson

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oilgas

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88% of the oil/gas companies in North America are headed higher in price right now. Probably not an ideal entry point here as there is some risk. Likes Burlington Resources (BR-N) and Encana (ECA-T).

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Producers on the energy side look pretty interesting. A great steel value play.

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John StephensonBurlington Resources Inc.BR-NxHOLDMar 30, 2005

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Burlington Resources Inc.(BR-Nx)

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