PetroQuest Energy, Inc (PQUE and T.PQU) Message Board

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Gold/Mining/Energy : PetroQuest Energy, Inc (PQUE and T.PQU)

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To: Toni Wheeler who wrote (522)	2/23/2000 9:39:00 PM
From: Ed Ajootian	Read Replies (2) of 686

Toni, I'm still hangin' in there with this one, and even bought some more last week. I may turn out to be the last person in history to buy this stock for < $2. Getting close but we shall see. The stock is being actively hyped, with 2 analyst reports out in the last month. The company has ramped up their spending plans for '00, and now plan to spend about $30 MM on drilling. They have generated a really interesting horizontal drilling play, which they'll be getting into later in the year. Gassbug at the Raging Bull thread was nice enough to e-mail me pdf files of these reports. I would suggest calling or e-mailing Bob Brooksher at PQUE to see if he could do the same for you. In order to fund this drilling they'll probably do another private placement. Actually with the stock up at these heights I'm a bit surprised that they haven't done one by now. Maybe they've decided to roll the dice and wait to see what happens with this Valentine well they're drilling. I've been extremely busy so unfortunately I probably will not be adding a lot to this thread for awhile. What little time I have for cyber-chatting I will probably use on my latest O&G best buy, Panaco (PANA). Panaco is like what PQUE was about a year ago --- a beaten down former darling, that everyone had left for dead. But when you cut through all the crap you find a company that is selling for less than the amount of cash they will generate this year! The PQUE stock price has now nudged above its break-up value, which suggests that the stock will be in for a nice spankin' when (notice I didn't say "if") they hit a dry hole on a high profile well. I have been burned too many times in the past in these types of situations so I dare not pay more than $2 for this stock, even with it in the limelight like this. Best of luck to all PQUE fans!

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