Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Rainier who wrote (61893)	3/10/2000 10:21:00 AM
From: JungleInvestor	of 95453

Thank you very much Mike (Rainier), Victorw, Edward Miller, and JQP for the excellent suggestions!!! The sharing of ideas and tips on this board is fantastic! It looks like my rotation from PXD and UPR (when they popped up) to EEX turned out to be a good one so far. EEX is one of the most undervalued E&P's around. Their estimated cash flow is almost $3/share, 6 of 7 wells of Tesoro properties that they recently purchased are completed and producing, book value about $7/share, 52 week high about 7 5/8. The onshore and Gulf shelf properties are cash cows and they have potentially high payback areas (with high risk) in the Gulf deepwater. The stock was hammered when they had a big writeoff on the deepwater Mackeral play and stopped well short of the target for the 2nd Llano well (they are drilling the third well now and results should obtained in April). EEX's partners for Llano include Exxon and Enterprise and reserve estimates are as high as 200 million barrels (this is very high risk however since they are drilling expensive 26,000 foot wells. Deepwater comprises about a third of the capital budget. Warburg has a big stake in EEX.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next