Gary,
I just received this from Lajuanda Holder: >>>>>The way I understand it (I'll run this by Mel Monday morning to verify) is that "they" put up the land leases, we do the drilling (incur drilling expenses) and both parties have interest in the well. The depths do not include Cotton Valley. I don't know the actual depths that are in the agreement (I'll find out) but I know we plan to drill down to the Georgetown and/or Buda formations. These formations are deeper than the Austin Chalk, I think they are about 8,000 to 10,000 feet deep. Mr. Williams has completed wells to these formations in the past. I'll get more info for you soon. In the mean time, I hope this is helpful.<<<<<
Thanks for all of your help Gary--I too agree CWEI is undervalued and eventually will be recognized as such by the investment community but in the meantime it appears that everything that can possibly happen to keep this stock down in the mud continues to happen. The political Hold rating by ABN AMRO, under-reporting by the Investors Business Daily, mistakes by Zacks/Paine Webber; plus I continually see incorrect information dispersed at the various websites regarding CWEI. I believe that, with time, the truth will prevail, but in the meantime, it isn't easy owning CWEI, but like you I will buy more soon, I hope. CWEI will be filing their 10-K with the SEC this Tuesday and maybe the various websites will update their information based on the filing. I'll keep tabs on them.
CWEI investors--if you Email me the URL, when and where you see incorrect data on CWEI, I will work with CWEI to have the information corrected. I usually attempt to deal with the website directly--but with Zacks, etc., it is necessary to go to CWEI, who goes to the analysts, and the analysts have to contact Zacks.
Buzz |
