Panaco Corp (PANA) Message Board

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Gold/Mining/Energy : Panaco Corp (PANA)

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To: Bearcatbob who wrote (93)	8/13/2000 9:58:44 AM
From: Ed Ajootian	of 115

Bob, As great as the $1.75 annual cash flow figure may sound, I believe Larry is still doing a little sandbagging of his projections. IMO he'd be better off not saying anything and just letting the market come up with its own projections. This next East Breaks 110 well is only 1,500 ft. away from hitting total depth and I would think it is very possible that they could have it completed and tested by Labor Day. Those wells produce in the neighborhood of 10 mmcfe a day and at a 83% NRI and at today's natgas 12-month futures strip that means PANA would stand to get an additional $.40 -- $.50 a year cash flow just from this one well! I believe the news of this well, combined with a bond rating upgrade and confirmation of ASE listing, will power this stock to the $3 mark. This pause at the $2.25 mark is very bullish for the long-term price chart, IMO. The stock was in danger of getting overextended from its prior base (around $1.60) and we needed a brief respite to shake out the momentum players.

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