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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL
CWEI 131.900.0%Apr 25 5:00 PM EST

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To: Buzz Mills who wrote (597)4/15/1997 5:12:00 PM
From: Buzz Mills   of 1017
 
CWEI closed @ 11 1/2, -1/4, Bid 11 1/2 x Ask 12 1/4....Vol..28.8K

Another disappointing day--once again I didn't have a chance to monitor the trading and I am wondering how many shares actually traded at 11 1/2--did notice the last trade of the day was a sell at 11 1/2; that was easy to see. The MM still has the Ask at 12 1/4, same as yesterday. I keep thinking that CWEI is beginning to turn around, or at least stop eroding, but it gave up a little more ground today. For a short time today, oil prices were above $20 a barrel--but then closed off slightly.

Oil $19.90, +0.37, (CWEI received $18.78 in Q1 1996)
Natural Gas, $1.94, -0.01 (CWEI received $2.29 in Q1 1996)

CWEI receives a premium for the liquids in its natural gas, on top of
the stated priced.
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