Clayton Williams Energy (CWEI) OIL Message Board

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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL

CWEI 131.90

0.0%

Apr 25 5:00 PM EST

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To: Patrick J. Saunders who wrote (739)	7/3/1997 9:28:00 AM
From: Taylor Mill	of 1017

Don, Patrick ---- no reason to suggest any link between CHK's writeoff and CWEI's weakness. CWEI is drilling in a highly mature and reasonably "safe" area of the Texas Austin Chalk trend. An area where drilling costs are low and profitable wells have a high probability of being completed. CHK 's writoff is a result of disappointing wells in distant areas of the Austin Chalk trend in Louisiana --- 100s of miles from CWEI operations. Wells are extremely costly and although production volumes exist, they are not great enough for CHK to consider future drilling economic. As one who follows both companies, I would be surprised if the market would draw a connection between the two. The only company that I know that truly has a large investment in the same area of "concern" is Belco Oil and Gas (BOG).

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