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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Think4Yourself who wrote (66394)5/17/2000 3:34:00 PM
From: ItsAllCyclical  Read Replies (1) of 95453
 
EEX looks very tempting at 1x cash flows.

From Dain Rauscher Wessels 11 May 2000

"We have reduced our forecasted loss for both 2000 and 2001. We are now forecasting a loss of $0.04 and $0.30 per share in 2000. Previously, we were looking for respective losses of $0.67 and $0.59 per share. This is due to revised DRW oil and gas price forecast, along with significantly reduced exploration expense. We expect exploration to be less than previously forecast, owing to less dry hole exposure in the next couple of quarters. Positively, the company sold a 20% workilng in the Mason prospect to Murphy Oil, which should largely cover EEX's exploratory drilling cost. The discretionary cash flow estimates for 2000 and 2001 have been increased to $2.84 and $3.20 per share from $2.64 and $3.06, respectively."
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