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Gold/Mining/Energy : Stanford Oil & Gas (SOG was STB)
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To: Saverio who wrote (86)5/12/1998 7:15:00 PM
From: Saverio  Read Replies (2) of 196
 
Input from the Oil and Gas analyst at "Buy Low Sell High" in answer to my request for an update on Stanford:
<<Stanford Energy is an interesting story. I would suggest that investors read their latest news release dated May 4, 1998. The company has had numerous problems with drilling costs far exceeding budgets and has had to back out on some drilling prospects which had substantial speculative upside. The stock is falling as a result, as those who were in the stock for the speculative nature of it are getting out and fundamentalists are starting to buy in. The company is looking to achieve cash flow of $5 million or $0.18 per share for fiscal 1999 ending May 31, 1999. This normally means that the stock should be trading in the $0.72 to $0.90 range. The company currently produces 1100 boepd of which 25% is oil. I think the stock will
be very volatile over the next few weeks and those investing should be ready to accept some risk of a further decline. However, the stock could also bottom bounce at anytime. I wish I could be more specific but there are a lot of unanswered questions at this time.>>

Personnally, I'll stick around for a while, as current stock price does not reflect what should be its "normal" trading range, and 75% of their production being in gas is a plus for the time being.
Cheers.
Saverio
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