YEEHAW CANDIDATES Message Board

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Strategies & Market Trends : YEEHAW CANDIDATES

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To: EGGSHAPE who wrote (583)	12/18/2002 7:45:13 AM
From: Ed Ajootian	Read Replies (1) of 23958

Eggshape, EPL -- Yes, its time to get back into EPL. See them mentioned in a recent post I did in the BBR, at Message 18338923 They are dramatically increasing their reserves from one of the most active and successful drilling programs out there right now. Most of the new stuff coming on line from recently completed wells is gas, and they still have 7 more rigs going. They are selling at well under 3 x projected cash flow at this point, way too low a multiple for a company this successful and with such a solid balance sheet. Not sure where you heard that US is only using 10% of Gulf supply. EPL (and all the other companies operating there) is selling every drop of oil and mcf of gas it can produce right now, and at prices that have rarely ever been higher.

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