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: Buzz Mills who wrote (134)	12/10/1996 4:26:00 PM
From: Buzz Mills	of 1017

CWEI closed at 15 5/8, up 3/8, Bid 15 5/8 Ask 15 7/8..Volume 89K There was a selloff in the oil stocks towards the close, and CWEI was one of a small minority of oil stocks that managed gains today. Good volume on CWEI and the stock looks strong--the new earnings information is starting to trickle out and should have a very positive affect over the next two months. At 1547 EST Oil is at $24.43, down 0.87 (CWEI received $21.19 in Q3) At 1547 EST Gas is at $3.83, up 0.18 (CWEI received $2.62 in Q3) Oil was down in reaction to Iraq beginning to ship oil. Remember that oil went up well over $1.00 in the last week and a half and now it is just evening out again. The amount of oil that Iraq is shipping $1B every 90 days amounts to approximately 40M barrels and that equates to about 450K barrels per day. Numbers that I have seen say the world is using over 70M barrels a day (this number is increasing with use in the third world countries), so the Iraqi oil amounts to roughly 0.64% so it is not expected to have an appreciable effect on oil prices.

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