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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Wowzer who wrote (70914)8/15/2000 11:24:24 AM
From: jim_p  Read Replies (1) of 95453
 
Rory,

No release, but their 10Q was filed yesterday. The results are as follows:

Production increased from 1999 by 469.26% off of a very small base, but declined by 6.61% from 1Q.

Cash flow was terrible. Annualized cash flow declined by 52% from an annualized $.52 DCFPS to $.28 DCFPS, or it is now selling at 10.2X this years CFPS.

Leverage was basically unchanged at 31%.

I would expect to see the company downgraded from a 1.00 rating, even though it is an exploration play.

Jim
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