Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Think4Yourself who wrote (66480)	5/18/2000 10:55:00 AM
From: Big Dog	Read Replies (1) of 95453

From Frost this morning on BSNX: We are raising our 12-month price target on Basin Exploration (NASDAQ: BSNX; BUY; Price: $17-13/16) from $20 to $23 per share based on 1.2x our calculated net asset value of $18.97 per share. Shares of the company have run up in recent days on the strength of natural gas prices. We believe that the negative investor sentiment toward the company, which crushed the stock after disappointing well results earlier this year, has turned. With 82% natural gas production, we believe that Basin stock will continue to benefit from strong natural gas fundamentals this year. We reiterate our BUY rating.

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