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 (249)	12/30/1996 1:46:00 PM
From: Buzz Mills	of 1017

Just received from CWEI: >>>>The third rig goes on line today. To the best of our knowledge, it's already running. I spoke with the controller regarding any 4th quarter expenses relating to the 3rd rig. He stated that with the rig coming on line this late in the month, he doesn't expect any expenses associated with additional rig to be reflected in 4th quarter. The Hanifen numbers are still under review here in our office. As soon as the CFO signs off on the estimates, I will gladly send you a copy. Regardings earnings, each group involved in the process works on their own calendar. Then we all meet and create the final calendar - the meeting should be next week. According to my calendar, we will file the 10K by March 14 (the deadline). I expect that we'll release earnings sometime between March 3 and March 14. It appears that the week of March 3 is the most likely. The annual meeting is usually around May 7 or May 14 (most often occurs on a Wednesday).<<<<< We now have an answer for the fourth quarter 3rd drilling rig expense and should have the answer on the fourth quarter earnings release next week sometime. Hanifen's numbers should be available shortly. Buzz

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