ABC - Abacan Resources, Nigerian Oil $$$ Message Board

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Gold/Mining/Energy : ABC - Abacan Resources, Nigerian Oil $$$

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To: Arktic who wrote (3135)	3/4/2000 12:37:00 PM
From: FoxyLoxy	of 3156

Mr. Craig, Without being too specific, I believe oil and gas firms that have shown the ability to post good/great results without the infusion of capital (fewer than most believe) are the ones to acquire. There is virtually no capital available, and certainly none for those who need it most. The buy-side believes that there is plenty of internal capital available (ie. earnings) and that if a company cannot post good earnings during record commodity prices, why invest in them at all. They are right. Look for good EARNINGS, not just cash flow. Companies that show a return on capital invested. The "independents" is a great starting point. Ones that have performed poorly in the market, but have great earnings and predictable production. They will scream "under valued". Assume a $19-20 WTI when doing long-term valuations - that is the average price over the last 20 years.......amazing isn't it. Write that book and make more money than you lost. You are a terrific writer. As always, my best regards. FoxyLoxy (How are your girls doing?)

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