Miller,
There apparently is another Buzz Mills (I know of three others) that you are confusing me with. I am an ex-aerospace engineer and I took early retirement to pursue something I love, namely investing in the stock market. If CWEI continues heading north perhaps I'll have an opportunity to meet you and the other Buzz Mills in the future; I look forward to it. Clayton Williams interest, after the stock offering, I think is down to only 46%. I'm interested in finding out how CWEI is going to react today; the high for the year is 17 5/8; that could easily be broken in the early trading. This morning's Investors Business Daily showed CWEI with a P/E of 11 versus 1996 estimated earnings. Being that CWEI gapped up yesterday morning, prior to the market rally, and since there wasn't any other news out, I would suspect that the gap might have been in reaction to the IBD's first publishing the new $1.65 estimate for CWEI. I have been wondering, since we can't obtain CWEI production figures, those being proprietary, whether we might be able to obtain the average price that CWEI has been receiving for their oil and gas. My calculations on earnings use the same production figures as the third quarter, $24/barrel for oil, and $3.30 for natural gas. CWEI will have an outstanding quarter and the stock should continue moving up; there is considerable upside potential; very, very, limited downside.
The other Buzz Mills |
