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Gold/Mining/Energy : PetroQuest Energy, Inc (PQUE and T.PQU)
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To: Ed Ajootian who wrote (306)4/12/1999 12:57:00 PM
From: andrew r harwood  Read Replies (1) of 686
 
Clearly there situation is not great ,one could not expect more in a penny stock .i spent some of the weekend reading their 10 q and they basically have two good producing fields with ongoing production and the new discovery well . they had a large write down of reserves due to declining price of oil and gas . according to thier 10 q they do not hedge any of thier sales of gas or oil so they will immediately benefit with the recent price rise in oil and more importantly gas.the key thing i thin about the company is that they are very small have low expenses a good exploratory record and team ,low debt levels and a good recent find .it really is debt that kills these little companies and in that respect petroquest is in good shape. there is also 45% insider ownership which i regard as very positive also .with the recent price rises in gas and oil that should give petroquest a shot in the arm as well as of course the new well discovery which is really an extremely good one fo r a shallow well in the gulf.
that being said it is obviously extremely speculative and risky and if oil prices fall below 10 $ again or if gas prices fall below 1.50 then im sure it would be at risk .anyway relative to a lot of penny stocks i personally think this is a good one and i put my money where my mouth was last week but of course i could loose the lot . time will tell arh
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