Clayton Williams Energy (CWEI) OIL Message Board

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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL

CWEI 131.90

0.0%

Apr 25 5:00 PM EST

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To: RonN who wrote (893)	10/14/1997 7:49:00 PM
From: Buzz Mills	of 1017

Ron, I am sure Hanifen's estimates have been out for some time. Oil was off today so maybe that had something to do with it. Any ease of tensions in Irag/Iran will drop the price of oil. November 97 21.50 21.54 20.51 20.72s -0.62 Received this from Lajuanda via J. Roof: > >Hi! > > > >Production is still up despite the fact that the "Chalk Drilling Program" dropped from 3 rigs to 2 during 2nd quarter. The earnings release may further address the results of the new northern-block production. Management says they are still pleased with the results and the new wells are still under evaluation. > > Increased production and stronger pricing always help. Remember, CWEI is spending A LOT of money in exploration which brings down the earnings numbers. To get a better idea of actual earnings before exploration costs, Hanifen has estimated EBITDAX to be $1.09 per share for 3rd quarter. Their EPS estimate is $0.14 per share and CFS of $1.09 per share. > > Management says there will be no further updates on the Mamau well (which is actually called the Mamau Prospect and the Perron #1 - I just found this out myself) until we are ready to report the results. Being so close to earnings (Oct. 29) we have to be quiet. Estimated completion date was originally set for October 29. The 3-D shoot should also be addressed in the earnings release. > > > >CWEI's drilling team completes 2 to 3 wells per month in the North Giddings Block (Austin Chalk). It is Company policy to release individual well results only when there are technological advancements, etc. since these are developmental wells. Also, the "chalk wells" are generally under evaluation for about 6 months due to their erratic production. > > > >Hope this is helpful. > > > >Sincerely, > >Lajuanda

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