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 (226)	12/25/1996 5:08:00 PM
From: Craig Gantner	of 1017

Buzz, I am new to this thread and think you guys are doing a fine job in providing so much information...I have a few questions in regards to earnings estimates. You and Mr. Phillps seem to be basing your predictions on oil prices alone without consideration to production figures. To me, the production is the BIG "if"...CWEI calls these figures "proprietary" ?? From what I gather, by their nature, Austin Chalk wells start out at a high rate of production and then drop off rapidly. Hence the need for continuous exploration by CWEI. I find it a little disconcerting that only the insiders (and big shareholders) have access to this information. Perhaps this is one reason that some of the analysts are cool to this stock. (One interesting note on this regard is that Mr. Williams and the board appear to have taken their compensation in CWEI stock!) My other question is on the Pinnacle Reef wells: Do they have the same production profile as the Austin Chalk? Thanks Craig

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