Clayton Williams Energy (CWEI) OIL Message Board

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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL

CWEI 131.90

0.0%

Apr 25 5:00 PM EST

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To: RonN who wrote (504)	3/19/1997 4:23:00 PM
From: Buzz Mills	of 1017

Ron, The selloff today is in reponse to the Hold recommendation --independent oils have been struggling, and were yesterday, and I would attributes yesterday's lackluster performance to that. I am guestimating that approximately $1.5M of the $4M seismic survey charge will go against the first quarter. Another factor to consider is that CWEI has three rigs running in the 1997 first quarter. CWEI's production in the fourth quarter was up nicely with only two rigs running. If CWEI markedly increased production in the first quarter with the three rigs that will be positive. There were a few lost days in the first quarter due to weather (flooding)---I am trying to obtain more information on that. CWEI should obtain prices for oil and gas in the first quarter 1997 that are fairly close to what they received in the third quarter 1996. The number to beat is now 0.27 earnings in the first quarter. I'll be compiling more accurate data with time and will post it. Buzz

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