Seems a bit risky Ken,,phrases such as "Oil and Gas sales decreased to $522,591 for the period ended December 31, 1999 from $833,380 for the year ended December 31, 1998. This decrease of $310,789 was due to declining production. Interest income was down $32,353 due to fewer funds available to the company to invest in interest bearing accounts, as has been the case in preceding years. Other income was up $1,975,866, which was the result "
and..
"Accounts receivable are down for the year ended December 31, 1999 by $152,389 due to less drilling activity by the Company in 1999"
are not phrases I like to read when talking E&P..Also appears the are big into hedging their gas,,would have to read the details.
"The Company generally sells a percentage of production on a fixed contract price and the remainder at the monthly spot price. However, for 1999 the Company believed that continued weakness in the oil and gas sector would persist.(big mistake) Therefore the Company sold 100% on a fixed price contract. For 2000, the Company's contract will be for a portion of a fixed contract price and the balance on the spot market. ".I don't know much about the exploration of minerals..What about cash flow,,that is pretty much how small E&P's are priced? Wouldn't be my first pick..not trying to nit pick..DD
(I think CHK would be a better play,long term,IMO)
but it sure has been on a tear<g>
Stock Performance
52-Week Change +606.4%
52-Week Change
relative to S&P500 +519.5% |
