Clayton Williams Energy (CWEI) OIL Message Board

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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL

CWEI 131.90

0.0%

Apr 25 5:00 PM EST

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To: David Helms who wrote (658)	5/6/1997 5:39:00 PM
From: Buzz Mills	of 1017

Hi Dave, I would like to think that CWEI is breaking the downtrend also--but everyime I start thinking that way a selloff happens. This morning the first 19,000 shares traded all appeared to be buys (11 3/4-12); the MM kept the spread at 11 1/2 x 11 7/8--it appears that all of the late trades were on the sell side, dropping the Bid to 11 3/8, even though it never traded at that price. ABN AMRO has raised their estimate for the year $0.09, to $1.01; their estimate for the second quarter is $0.13. Natural gas is steadily improving in price; while oil hasn't been able to sustain any gains in price. I am carefully watching the stock price, and trading, for indications of success on one of the wells to the north, or for an inkling of good things coming out of the CWEI 3-D seismic survey. As with this morning's early trading, as well as a few recent days, it was starting to look as if something was beginning to happen; but the late trading was again on the sell side. We need some good wells in the Georgetown formation, rising oil prices, and a success in the pinnacle reef wells to the north--any of those would help. Buzz

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