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: Meredith Cullen who wrote (170)	12/15/1996 4:47:00 PM
From: Buzz Mills	of 1017

Meredith, The highest estimate so far for '96 is $1.70 and for '97 is 1.29 from Paine Webber, released this past week--it will be compiled into Zack's numbers today and should be available tomorrow. I haven't seen any information from SI and would wonder as to how current that information is. The reason Rodman, Renshaw's numbers for '97 are only 1.13 is because they are using a price of $19.75 per barrel for oil in their calculations and the fact that CWEI is in an exploration phase with the potential of discovering pinnacle reef wells. We are maintaining very close contact with the company. For the estimates received so far: techstocks.com and I would also refer you to earlier posts which contain considerable information along with the URLs in the Introductory paragraph to this thread. Please don't overlook the fact the P/E ratio at today's stock price is less than 10X estimated '96 earnings, and don't hesitate to ask questions if you need further clarification or if you don't find the information you are looking for. In my opinion there is no reason at this time for the stock price to do anything but continue to trend upwards. Oils have been under considerable pressure this past week because of Iraq beginning to ship oil. The amount of Iraq oil, 500K barrels per day, is a very small percentage of the world usage of over 70M barrels per day and energy analysts say it won't have a major effect on oil prices. After oil tumbled to $23.32 a barrel during the first days of Iraq oil shipping, it came right back up to close the week at $24.47. The stock price of CWEI has risen 57% in the past 75 days and that does not give me reason for concern as to what it will do in the future, given the numbers available. I would welcome the people in prodigy to post on this thread--we will maintain current information on CWEI. Buzz Mills

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