Grey Wolf GWX - was Cascade COL - ASE Message Board

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Gold/Mining/Energy : Grey Wolf GWX - was Cascade COL - ASE

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To: russet who wrote (67)	7/25/1999 9:34:00 PM
From: Enigma	of 80

The problem with GWX in the past was that they acquired almost everything in sight by issuing stock, sometimes with cash, - so that with 127 million issued most investors chose to pass. There is no question that the company acquired valuable production with upside potential - the dry holes in the elephant plays didn't help any - but dilution was the main deterrent. The New Cache purchase/farm-in is hopefully a turning point - because it is a cash deal which can easily be paid out of cash flow. So hopefully the management has turned the page and will defend the equity of the individual shareholders from now on. d

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