Ken,
Might be time to average down some more. The more I think about it the 1Q release will likely give the stock a kick in the pants. Once they put out a release with positive earnings, a whole new crowd will start buying the stock, the value investors.
I'm now calling for production of 4,800 mmcfe of gas for 1Q, a 5% increase over 4Q '99. Not exactly lighting the world on fire (ergo the stock price stuck in the $.60 area) but at least we are now going in the right direction.
Here's the latest actual and prediction production figures:
1999A 2000E
1Q 4,972 4,800
2Q 4,634 4,800
3Q 3,972 4,900
4Q 4,569 5,100
I've trimmed the 2Q figure a bit due to the fact that the Sturlese #3 well did not come in as good as planned.
Still, important point here is that this is likely to be the last quarter that PANA will have less production than the same quarter for the year before. |
