Chaparral Resources - CHAR Message Board

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Microcap & Penny Stocks : Chaparral Resources - CHAR

CHAR 10.39

0.0%

Nov 3 3:59 PM EST

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To: hoffy who wrote (10)	10/11/1997 10:17:00 PM
From: Bob (Hijacked)	of 127

hoffy: I find the $5.00 very hard to believe!!! First, they have only one consession - the Karakduk Field in Kazakstan. Second, it is still not a done deal - production has not started. They have to complete their financing, work over the rig, and contend with the winter weather (winter is not the best time to drill). This is my take on CHAR: They have 74 mbo proved and 53 mbo probable. So, you can take 50% (they have a 50% interest) of the 74 mbo and multiply it by $3.00 oil and then take 50% of the 53 mbo and then reduce it agian by 50% for risk adjustment. I am using 45 million shares, fully diluted. My math adds up to $3.35 - not even close to $5.00! A couple of months back, a brokerage company (maybe Allen) said it could trade $2.00 - $3.00 higher once production starts. The stock at that time was .80 cents. This falls in line with my numbers as well. The good news is they are much closer to production than AIPN will ever be and they are not grossly over hyped!! I would expect CHAR to pull back next week and view it as a buying oppertunity. Just my opinion, Bob

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