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 (321)	1/23/1997 9:31:00 PM
From: Buzz Mills	of 1017

Paine Webber RAISES '96 Estimates Despite the negative news that we received from Zacks regarding Paine Webbers reductions in '96 estimates here is what I just received from Lajuanda Holder, CWEI's Director of Investor Relations >>>>>Lajuanda Holder wrote: The PaineWebber revision was for 4th Quarter 1997. Their estimate for 4th Quarter 1996 has increased from $0.58 per share to $0.69. Their estimate for the year 1996 is $1.83 per share, up from their previous estimate of $1.56. Management is comfortable with these numbers. Management has indicated to all the analysts that they felt the estimated 1997 numbers were a little high. PaineWebber adjusted theirs. According to the model they sent me, they adjusted net income for the year ending 1997 from $1.31 down to $1.26. All the analysts are taking into account the CWEI capital expenditures on Cotton Valley and expect no increase in revenues in 1997 from CV. Also, the numbers I am quoting you are from the earnings models the analysts send us. The actual numbers they publish could be off a few cents either way. Zack's apparently made an error. I've had another email regarding the same thing. I still can't scan so I'll drop a copy of the PW model in the mail today. I also have a call in to Rodman and Renshaw about their latest report. I do hope you view this a good news. If you would like any further details or explanations, please let me know. Sincerely, Lajuanda<<<<<<< Buzz's note: I am going to send a copy of Lajuanda's note off to Zacks

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