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Gold/Mining/Energy : PetroQuest Energy, Inc (PQUE and T.PQU)
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To: Ed Ajootian who wrote (50)5/20/1997 3:16:00 PM
From: Ronald J. Clark   of 686
 
Ed,

I agree that hte first quarter report is disappointing. I also agree that the Wildhay area has not done what the company hoped for in developing it. The price paid for Canadian gas has been unbelievably low! I don't think, however, that the company having investing substantially in this venture should get it "off the books, no matter what they get for it". Maybe the analysis of how it is performing should be done in light of the price it can command in the market place. The cash flow Wildhay generates may be hard to duplicate with the measley amount of cash received by the company, if they in effect give it away to get it off their books. Maybe the answer is to simply slow their drilling in this area while gas prices are low and drilling expenses are high. Best regards, Ron Clark
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