NAMX -- North American Expl.-- Que Sera Sera! Message Board

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Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera!

NAMX 0.00

Dec 18 4:00 PM EST

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To: timemizer who wrote (2418)	2/1/1998 10:46:00 PM
From: alchemy	Read Replies (2) of 4736

Hello Grand and Time: I have no idea of NAMX's current liabilities if any. They have income as of this month. Unofficially, we have 200m shares authorized. I am guesstimating at somewhere between 80 and 110mm outstanding. Everyone is assuming that their financials are the Achilles Heel of this company. We won't know until they tell us. The company has assured us that dilution is not a problem. If they keep finding fields the size of the Nebraska field, no one will care about dilution. We'd like to know anyway, if you don't mind. I have been in this company for almost eleven months. The company has never looked better to me than it does now. A UPR agreement would certainly sweeten things. My original estimate for drilling a well was $115K. The company has given me a more accurate estimate of $75K per well. I am assuming these are not the dual Niobara and D Sand wells, but the Niobara. It is a very economical field to work; adjacent to KNE's main pipeline, shallow, basic frakking with rapid payback. It is the best of all worlds. Management feels that the Niobara is very similar to the Austin Chalk in the DJ Basin of which this is an extension. The potential is for a 40 year run from the Niobara. Seven years for the D Sand. All current estimates are only for 10% of the field. I am hoping that we see the Gruy report soon. That should give us better data regarding the actual average flow rates. I heard that the pressure from one of the last of the nine wells drilled was so great it blew the pressure meter fifty feet into the air. I like the sound of that and hope it's true. marty

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