Strictly: Drilling and oil-field services Message Board

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

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To: SliderOnTheBlack who wrote (47210)	7/1/1999 3:11:00 PM
From: Think4Yourself	Read Replies (1) of 95453

Slider, did you notice the dramatic increase in MEXP's daily gas production this quarter compared to last? One small line in the article (Plus the last 10K) gave everything away - They are up over 30% and will continue to increase through the next year. Seems the reworks and abandoning 2D for 3D seismic made all the difference. FWIW HEC just announced a very successful well drill, and also attributed it to 3D seismic. Took a closer look at CRK, especially the 10Q. While I agree they could do very well It concerns me that their new credit line has such a high interest rate (LIBOR + 2.25%) even though it is secured by ALL of their assets. Also the dilution of all those preferred shares converting is disturbing, as are the strict financial ratios they must maintain. Could be a big winner, but too risky for me at this price. The 10Q reminds me of EGEO's and RIG's when I checked them out last February. I will revisit after they announce this quarter's earnings and financial status. If it is back down below $2.75 by then it could be "an even better deal" ;-) Since I don't like it, CRK will probably skyrocket. Good luck with it.

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