Strictly: Oil and Gas Exploration Companies Message Board

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Gold/Mining/Energy : Strictly: Oil and Gas Exploration Companies

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To: SliderOnTheBlack who wrote (29)	9/20/1998 11:59:00 PM
From: SliderOnTheBlack	Read Replies (1) of 318

CPE / Callon Petroleum - revisited... <<Sunday, Aug 16 1998 11:30AM ET Reply # of 50 Interesting situation as they have 8.03 Million shares; but only a 1.4 million share float; with 591,000 of the 1.4 million share float shorted ! - will take 37+ days to cover !!! They have 5 analysts following them - all rate as Strong Buy. 85% natural gas & some nice new finds coming online. 50 year old business; debt reasonable at .53 & selling at .73 of book value. Has positive earnings and is projected to double EPS next year. moderate institutional ownership @ 48 for 37.2 % of float. Selling 20% below 30 month low... I love the heavy short interest with their 85% natural gas weighting going into cold weather - irregardless of crude pricing, this could be a nice ''pop'' from short covering alone, let alone a nat gas move upward... Seems too good to be true - what am I missing ?>> ******************************************************************************** quote.yahoo.com ...up strongly as many E&P's have been. Hicks Muse has just invested $600 Million + in COHO & Triton Oil. Lots of major money coming into the E&P sector recently. Here is a link to recent CPE news; folks they are on a roll with find after find... comments anyone ? Has anyone found a better fundamental story than this ? biz.yahoo.com biz.yahoo.com *up strongly, buying back stock, 5-6 recent successfull finds, low debt, very strong cash position, 0.84 of book even after this run up, 5 year EPS growth going forward of 33% and has been in business for 50+ years. A new aggressive acquisition program is on a major roll. This is my #1 suggestion in E&P's. - with no close 2nd choice; because of the high cash - low debt & 50 year history. PS - CPE has just a tick under $100 Million market cap; so it will be on the screens for Funds soon... .... I'm following Hicks Muse into COHO as well...

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