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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Archie Meeties who wrote (17799)2/5/2003 4:17:23 PM
From: Ed Ajootian  Read Replies (3) of 206182
 
Arch, CPE, PQUE -- I blew out of most of my remaining position in CPE today on news that their first deepwater project is now delayed another 2 months and won't start producing until June. I don't see the stock making any major moves until say March/April at the earliest. Most of the money went into EPL in anticipation of a big move in the coming weeks, based on upcoming announcements. Definitely keeping CPE on the radar screen with a likely reentry in the Spring.

I am interested in buying some PQUE based on an upgrade by Subash Chandra at Morgan Keegan, whose opinion I highly respect. He is projecting 90 BCFE of '02 year-end reserves, and with an enterprise value of something like $160 M it looks way undervalued, considering the prospects they will be drilling in the next 6 months. Not usually much of a TA guy but the chart looks bad even to me, so that is why I'm hesitating. Any PQUE thoughts?
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