Comstock Resources (CRK) Message Board

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Gold/Mining/Energy : Comstock Resources (CRK)

CRK 23.55

+1.9%

Dec 26 9:30 AM EST

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To: Dorothy Simpson who wrote (14)	5/10/1997 2:00:00 PM
From: Herb Melcher	of 24

Dorothy, I imagine the stock fell because of falling product prices for oil and gas. In addition there were probably additional impacts of more momentum investors bailing out after seeing the momentum reverse on Comstock and energy stocks in general. I think CRK looks cheap at current prices. I bought in at $9 yesterday. I think the company should be valued in the mid-teens based on its reserve values. Now is probably a good time to buy energy stocks, when they are out of favor. I don't believe there is much downside risk in CRK from here, and there is a great deal of upside potential. My target is +50% in 9 to 10 months. Hang in there if you still own the stock.

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