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: E Schmidt who wrote (458)	3/6/1997 12:39:00 PM
From: Buzz Mills	of 1017

Thanks Earl, Really great information on the Cotton Valley play--since CWEI hasn't started drilling yet, and at this time are still pretty far south of the discoveries, I can understand why they weren't included in the article. If Broughton hits on the Zackson Rachui well, 9 miles north, and slightly east, of CWEI, then I think we will see excitement begin building into the CWEI stock price. When I first read about CWEI's pinnacle reef play they were planning on taking on a partner; now, as far as I know, CWEI plans on going it alone. The wells are very expensive, and a company can't afford to have many failures in that arena. CWEI has 117,000 acres within the fairway of the Cotton Valley formation--although a good portion of it is further south. The CWEI 3-D seismic study should provide information on how many possible targets exist within the 50K seismic acres--with Broughton doing a 3-D on an even larger area just north of CWEI, it is encouraging. Clayton Williams Jr. said just one average pinnacle reef well will grow CWEI by two-thirds. Buzz

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