TOFF - Tatham Off-shore is surging... Message Board

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Gold/Mining/Energy : TOFF - Tatham Off-shore is surging...

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To: Norman P. Clarke who wrote (52)	6/21/1997 3:38:00 PM
From: MarcG	of 67

Norm, Currently the market values TOFF at roughly $ 15 million. IMO, if they can get a couple of the Sunday Silence Field wells to production, which seems more likely now that they obtained royalty rate relief, they would gross their total market value in 100 days' time. The average daily volume is 70,000 shares. If it starts to go to 100's of k, and the price moves 10 %, you'll have an indication that a deal is possible. The co. is leveraged to the max with 60 million, but hopefully its partner and same owner, Deeptech, will be flexible about this indebtedness. A rally through the 200 day MA at .75 would be another good sign of strength. The price of oil has been pretty soft lately, under $ 19 per barrel, so it could be another factor to keep an eye on. MG

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