Midland MRIX, MRIXZ Message Board

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Gold/Mining/Energy : Midland MRIX, MRIXZ

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To: CKramer who wrote (29)	7/10/1997 5:20:00 PM
From: Ed Ajootian	of 32

CK, Don't believe they have been unduly hurt by the lack of drilling rigs. Basic problem is them not hitting the Fusselman in the two recent Chalk Mountain wells plus having a dry hole in a Latigo well. Alex Montano of CK Cooper lowered them to a "hold" from a "buy" last Thursday. He did say they would be a buy under $4 though, so maybe we've hit bottom. MRIX has learned its lesson and now is drilling the next Chalk Mountain well just a couple of hundred feet from the first one. Getting another 400 bopd well under their belt should rally the troops. With the Iraqis flooding the oil market I don't think we're gonna see any big rally in crude for awhile. But MRIX should still be able to grow significantly in the next few quarters just drilling out their projects. I hear they are gonna go on the AMEX as soon as they get the public float up to $15 mill. This should tighten the spread and add to liquidity.

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