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 (51528)	9/21/1999 12:06:00 PM
From: Think4Yourself	Read Replies (3) of 95453

Guess I need to clue you in Slider. I really thought you would see this. Thibodaux #1 was down during the blowout. This well has had EXCELLENT production so far (18 MMCF/Day and 1800 bbl/day) and Meridian has a 71% interest in the well. Do the math... Bad news, right? wrong! The well had JUST come online, so it's production was not in prior quarter figures. Stock price got cut nearly in half anyways, so I bought BIG TIME! Well is now back online. The blowout well (Thibodaux #2) was capped and Thibodaux #3 will replace it, coming online late next month. #3 goes through the same sands as #1, but is geologically isolated from #1. Guess what is going to happen to earnings if #3 is as big a gusher as #1 (all indications are that it will be)?? BOTTOMLINE: my extrapolations were EXTREMELY CONSERVATIVE! press release below will validate claims regarding well #1 gasandoil.com

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