Charger Petroleum Inc. Message Board

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Gold/Mining/Energy : Charger Petroleum Inc.

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To: Superstone who wrote (3)	6/10/1999 3:51:00 PM
From: johnlag	Read Replies (2) of 58

Apprentice? Short at $6.40 yesterday. Happily. You call me apprentice and tout a possible $10 price? What kind of valuation are you using? How 'good' of a well do you think would justify a $10 stock price? Reserve 'estimates' for the well were between 400 and 800 BCF. For fun, give CHC credit for 800 BCF, 14%, at US$1 in the ground, 25,000,000 shares out. There's $6.72 a share. At BEST. What else is there to fall back on? No current production. Still time away from drilling the next round. I heard thru a source that the first test zone is wet. Whether this is true or not, I don't know yet. The market is off, $5.65 bid and Jeffrey isn't taking calls. It's probably pretty hard to raise money at $6 a share if the market slips from these levels. There may be deep pockets running this one, but a $6 price is awfully hard to defend. It's my belief CHC will be in the $2.00 range in the coming few weeks. Good luck to you. You might want to sell your options, if you have any. John

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