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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: Daniel Schumacher who wrote (158)12/13/1996 12:37:00 AM
From: Kendell Phillips   of 1017
 
Buzz,
Wanted everyone to know the potential of CWEI's Cotton Valley Play next year.

Given the recent SHARP INCREASE in the PRICE of natural gas, some may
be interested to know that CWEI's
move into the cotton valley offers the potential of a major natural
gas find.

Reference - Hanifen Imhoff Report dated 1 July on the Cotton Valley
Lime Pinnacle Reef Play

" Recent exploration success in the Jurassic Cotton Valley Lime
Pinnacle Reefs of East Texas has shed
new light on the upside potential for selected companies in this
expanding, technologically-driven play.
Marathon's # 1 Brounkowski well, which came on line at a daily rate
of 26.2 million cubic feet of gas in late
1995 and Sonat's # 1 Fountain, which came on line at a daily rate of
30.3 million cubic feet per day in late
April, are recent examples of the prolific per-well rates currently
associated with this play. Each of these
discoveries is estimated to yield 50 to 80 billion cubic feet of
gross recoverable natural gas reserves which,
from an investment standpoint, implies rates of return exceeding 100%
based on $2.00 GAS PRICES. "

" WE BELIEVE CLAYTON WILLIAMS IS BY FAR THE MOST LEVERAGED TO THIS
PLAY, primarily because of its relative
acreage holdings and its small market capitalization. "
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