Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 180.99

+4.0%

3:59 PM EST

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To: Trader J who wrote (13545)	4/29/1999 11:07:00 AM
From: Wowzer	Read Replies (1) of 56535

I have a ton of these type of stocks, since that is mostly what I trade in... My favorite right now it PGEI. Petroglyph Energy, Inc. is an independent energy company located in Hutchinson, Kan. engaged in the exploration, development and acquisition of oil and gas properties. Its properties are concentrated in Utah, Colorado and Texas. The company has been killed due to the low crude of 11 to 12 bucks a barrel and basicly been left for dead. Crude is now at 18+. Also the company plans to eliminate all of its debt by selling some assets This was taken from latest news release: "In the continuing low oil price environment the Company has initiated several courses of action that it believes will preserve and build value during 1999. First, the Company completed a 25% administrative cost reduction program during December 1998, and will evaluate further cost reductions if warranted by the evolving commodity price structures during 1999. Second, the Company plans to dramatically reduce or eliminate entirely its existing bank debt through the sale of certain properties. In this regard, the Company has targeted the sale of certain gas compression equipment, the sale of 100% of its Helen Gohlke Field assets and the sale of a 50% working interest in its Raton Basin coal methane development. With the elimination of bank debt, the Company believes it will be in a more favorable position with respect to its ongoing costs and cash flow structures and will be better able to take advantage of significant emerging growth opportunities during 1999. The Company continues to actively evaluate opportunities to significantly increase its proved reserves and related cash flow." Insiders have been buying lately and could easily double from here. Rory Rory

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