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Gold/Mining/Energy : DAILEY PETROLEUM (DALY)
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To: DD™ who wrote ()1/17/1997 1:44:00 AM
From: Buzz Mills   of 23
 
Don,

I now know a little more about DALY then I did before; that was
nothing. I looked at their last Edgar filing:

sec.gov

and had some difficulty understanding the numbers.

I also looked at the news:

biz.yahoo.com

There should be some significance to the huge volume; they only have about 9M shares outstanding. They are in an excellent industry to benefit from all of the drilling going on. I did read where they missed analysts expectations by 0.02 this last quarter, news release of 12/16/96, but the forecasts for this coming quarter look promising. I can't remember the names of their competition in this field but I do know there has been some consolidation going on, so I am wondering if maybe there isn't something going on in that arena. It would be good to isolate that segment of the industry to see if anything is happening with the other companies. Without knowing anything beyond the above at this moment, the downside risk appears to be minimal. Looking at the chart, what there is of it, being they are just over three months old, it is worth keeping a very close eye on it.

Here is the Drilling and Marine Supply group on Stocksmart:

stocksmart.com:8802/ows-bin/owa/Iy.g?iid=113

I like the chart in Stocksmart as it compares DALY with the Drilling and Marine Supply and the S&P. Click on Dailey to get the chart.

Buzz Mills
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