Clayton Williams Energy (CWEI) OIL Message Board

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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL

CWEI 131.90

0.0%

Apr 25 5:00 PM EST

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To: RonN who wrote (677)	5/16/1997 5:39:00 PM
From: Buzz Mills	of 1017

Ron, CWEI doesn't release current production levels, or at least they haven't so far. I was disappointed in their production for the first quarter: 577K barrels of oil. That number was down from 602K in the previous quarter and remember there were three rigs drilling in the first quarter; I thought they might do better. The last earnings release stated that drilling as a result of the 3-D survey, if there was to be any, would commence in the latter part of the fourth quarter. This is a slip from the October time frame previously stated. CWEI's exploration expense for the year is supposed to total $12M ($4M 3-D, $8M elsewhere); they only wrote-off about $1.5M against the first quarter. Oil prices took off again today. Buzz

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