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Gold/Mining/Energy : PetroQuest Energy, Inc (PQUE and T.PQU)
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To: andrew r harwood who wrote (393)7/25/1999 12:42:00 PM
From: Ed Ajootian   of 686
 
Andy,

Nat. gas blasted through the $2.50 mark on Friday, closing at $2.52. Will be interesting to see if it hold last week's gains in the next week.

We are now basically at a point where if you want to acquire this stock, you will need to bid it up to a new 52-week high. This is a good starting point for the new exposure that is about to unfold for the company. We want the newbies to be impressed with a stock price that is on an upward trend, or at least holding steady.

Accounting principles do not allow for "write-ups" of reserves when prices go up, only write-downs when prices go down. So unfortunately we will have to do our own calculations on the side, to figure how much value this company is worth given the higher commodity prices. In this regard it would have been helpful if the latest release had included an estimate of the amount of proved reserves that had been discovered at High Island. Looks like PQUE management is being really cautious about not saying anything that could run them afoul with the SEC.

This is where an analyst report could really help this company at this point. An analyst can get away with saying whatever they feel like about a company. I still think we will be seeing something come out on PQUE sometime in the next few weeks. In fact I would suspect that they would not have been chosen to attend the upcoming O&G conference unless it were known that some 3rd party was gonna write them up.

I feel sorry for anyone who is watching this stock waiting for more good news to come out, thinking that they could buy the stock anytime they want to. There will come a time in the not-to-distant future when this stock will pop up to a buck & a half in a coupla days, on no news, and we'll all be looking at ourselves and saying "W-T-F?".

The reason for the pop will be the analyst report, which we will not find out about until it has been duly circulated among the clients of the firm whose analyst wrote the report.
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