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Gold/Mining/Energy : PetroQuest Energy, Inc (PQUE and T.PQU)
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To: Toni Wheeler who wrote (456)9/2/1999 9:39:00 PM
From: Ed Ajootian  Read Replies (1) of 686
 
Toni,

This is great news and explains the recent runup. Looks like we have successfully blasted through the roadblock posed by the $1.25 warrants, like a knife through butter.

Will be interesting to see how much of that stock they just placed comes on the market when they register it next month.

This one well is good for about $2 mm a year in additional cash flow, or about $.08 a share on a fully diluted basis. Putting a 4 multiple on that (conservative), you get a value of $.32 a share. The only reason the stock did not move much on this news today is that they unfortunately did not use the right ticker symbol in their release, so many services, that are keyed to the ticker symbol (e.g. Yahoo) did not pick up the release under the stock ticker symbol. Also, it didn't help that nat. gas prices got absolutely smashed today, a record down-day I bet.

They are definitely getting the attention of their big brothers with these hits and should have little problem finding someone to buy in to their Valentine prospect now. I understand they also have another drill-ready offshore prospect they are shopping now, Eugene Island.

IMO, once they get the first of these two prospects spudded we should finally see some analyst coverage of this company.
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