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Strategies & Market Trends : Value Investing
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To: isopatch who wrote (13589)1/4/2002 7:01:08 PM
From: Bob Rudd  Read Replies (1) of 78576
 
iso: Regarding energy plays, many analysts use EBITDAX, Earnings Before Interest, Taxes, Depreciation, Depletion, Amortization, and Exploration Expenses, as a cash flow proxy in the energy sector. Disregarding the ahortcomings of EBITDA, could you, or anyone caring to comment shed any light on why Exploration expenses would be adjusted out?
<<Once the lawyers take over, look out>> Agreed. HAL is no longer an energy play, it's legal play until the big suits are resolved and that's lookin to be '03.
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