Panaco Corp (PANA) Message Board

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Gold/Mining/Energy : Panaco Corp (PANA)

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To: Author51 who wrote (30)	2/19/2000 1:34:00 PM
From: Ed Ajootian	of 115

Psycho, IMO you have made a huge mistake in lowering PANA down to a "Buy". Most of the additional loss announced for 4Q was a non-cash writedown of their oil & gas properties. For the multitude of PANA fans out there, here is what our Psycho buddy put on his web site the other day: <<Pop's Notes: I was asked why I downgraded to BUY.....Several reasons.....The greater than anticipated loss was less than appealing to me.......Reserves are great, BUT pump some Oil, sell some gas, and make some $$$$!!!!!!>> <<Price target: $2.75 in 6 months------$4.50 -- 1 year>> I am going in exactly the opposite direction that you are. I have followed PANA pretty closely for about the last 4 months and only now am getting real excited about it. Let the record show that the current price is $.705. I bought some more of the stock at that price on Friday. I believe you should have waited until they announced this next well they are testing, which is bound to be a huge producer (10 - 15 mmcfd). If in fact this well comes in at this rate I believe we will be looking at a $.80 stock easily. This is why I love investing in these tiny O&G microcaps. If you are knowledgeable about the O&G business you can clean up.

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