Clayton Williams Energy (CWEI) OIL Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL

CWEI 131.90

0.0%

Apr 25 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Buzz Mills who wrote (312)	1/21/1997 12:28:00 PM
From: Buzz Mills	of 1017

A response from CWEI to Paine Webber's reduction in fourth quarter estimate: I just received this from Lajuanda Holder, CWEI Director of Investor Relations: >>>> I have no idea why PW changed their numbers. In fact, I wonder if it may be an error. Mel (CFO) talked to them last week about the 1997 numbers were a little high. They stated they didn't plan to change the numbers (want to wait and see what production levels are for 1996). I'm making a guess here, but I suspect that PW thinks Management is too conservative and wants to stick with their 1997 numbers unless the 1996 production levels are lower than PW estimated.<<<< My note: The drop in the stock price of CWEI this morning is a surprise--it must be in reaction to Paine Webber's fourth quarter estimate reduction. Even if CWEI did only earn 0.50 in the fourth quarter, CWEI would still only be selling at 11X earnings. Barring very low production numbers, CWEI should easily better Hanifen's estimate of 0.60 for the fourth quarter. At 0.60, CWEI is now (@18) selling at just over 10X estimated earnings. More information from Lajuanda Holder: >>>> We are trying to arrange for John (Myers--Morgan Keegan) to meet with our Cotton Valley Geologist- Ed Norwood. Both men are very busy and we haven't arranged a mutually good time yet.<<<< As mentioned in a previous post--Morgan Keegan may do a write-up on CWEI with respect to the Cotton Valley pinnacle reef play.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next