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Microcap & Penny Stocks : GW GREY WOLF

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To: jim p. holcomb who wrote (103)	12/20/1997 5:55:00 AM
From: jim p. holcomb	Read Replies (1) of 444

To All WOLFERS, Let's try to find some good in this depressing decline... How about the fact that CONOCO just announced in their 1998 budget that they plan to drill 200 wells in their Lobo Trend Field in South Texas in 1998. Grey Wolf's main yard is in Alice, TX. which just happens to be in South Texas. They should get some of this drilling if for no other reason than it will cost less to move rigs from one location to another. If they don't get ANY of the Conoco wells, that will only tie up somone else's rigs and leave Grey Wolves available. Trans Texas Gas is claiming a new discovery in the shallow waters of Galveston Bay which should extend onland. Swift Energy, who already uses several GW rigs, is planning another year of at least 200 new wells,in south & central Texas. GW is a super buy at today's prices; based on projected future earnings for '97 and'98. Jim.

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