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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL
CWEI 131.900.0%Apr 25 5:00 PM EST

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To: Buzz Mills who wrote (39)11/20/1996 12:55:00 PM
From: Buzz Mills   of 1017
 
CWEI up again................................................

For the moment the MM has the spread at something sane, 1/8 of a point, trading at 15 1/8 X 15 1/4. CWEI established another new intraday high of 15 3/4 this morning--and it looks good for a new closing high--second day in a row. Good volume again today. Seeing a good mix of large and small trades.

Hoping for a Clayton Williams News Release by Friday on the completion of the Secondary Offering, along with the exercising of the option for the additional shares by the Underwriters. This will help keep the momentum going.

Spoke to the Investors Business Daily again about still having the 0.85 earnings estimate for the year. Their management said they won't change it until they hear it from their analyst which could take a month. The management wouldn't divulge who their analyst is. I'll Email the IBD and ask they forward the letter to their analyst; it would be nice to see the estimate increase.
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