Oil & Gas Exploration & Production Co.'s Message Board

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Gold/Mining/Energy : Oil & Gas Exploration & Production Co.'s

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To: DELT1970 who wrote (48)	4/14/2003 7:57:25 PM
From: Ed Ajootian	Read Replies (1) of 112

Nobody else as far as I know. I believe this was fairly heavily followed back in its heyday (late 90's) but when they went bankrupt the coverage fell off. Its really quite an amazing "rise from the ashes" story IMO, very rare for oil & gas companies. The analyst for SMH makes the same mistake most people make in looking at this company -- she looks at total production vs. just production other than that which is dedicated to their volumetric production payment. That severely distorts their performance, with a negative bias. As each quarter goes by the volumes being produced under that VPP deal go down and pretty soon folks are gonna be marveling at how much this company is ramping up its production all of a sudden -- when in fact they will have been doing it for awhile. This stock had been tracking the 12-month natgas strip pretty well for awhile but recently it seems to be stuck in the doldrums even though natty prices have rebounded.

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