PEL - Purcell Energy Message Board

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Gold/Mining/Energy : PEL - Purcell Energy

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To: Bearcatbob who wrote (151)	12/3/2000 4:08:30 PM
From: rajaggs	Read Replies (1) of 165

BCB, I think they did buy back some shares at around $3.50 but they could/should have done it, if possible, when the share price tanked during the 'water rumour crisis'. It would have cost less and supported the price during that time of concern. The 'flow-through' warrants have provided cash but is that what they really need, with cash flow in the $40-45 million range next year. It seems to have turned off investors more than the hedge, which is good but not great. Maybe when they open the taps on F-29? and get 60% of that flow, then they'll be in the news and with NG prices still seeing new daily highs, it may bring back some buyers. It's certainly one of the biggest bargains in the O&G field right now, especially for investors looking for little downside. 'jaggs

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