Goodrich Petroleum GDP-NYSE Message Board

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Gold/Mining/Energy : Goodrich Petroleum GDP-NYSE

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To: Lawrence Burg who wrote (3)	9/18/2000 4:36:20 PM
From: richard badauskas	of 7

GDP looking interesting again. All of the technical signals look very strong and there appears to be only small parcels of stock in the market. Number of shares issued now 12.9M (4M were issued recently at $4 to convert $12M of debt into equity). Cash flow is now excellent running at .48 cents per share per quarter (with oil at $24 per barrel and ng at around $3 mcf) Oil now at $37 and gas at $5.20 mcf and production running at 22 mmcfe. Assume that GDP has a very good chance to crack free cash flow per share of $1.50-2.00. GDP has an active drilling program and may also be able to increase production volumes. At these cash flow levels there is a great amount of upside in the price.

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