Strictly: Oil and Gas Exploration Companies Message Board

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Gold/Mining/Energy : Strictly: Oil and Gas Exploration Companies

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To: Mark who wrote (193)	5/15/1999 5:32:00 PM
From: Robert T. Quasius	of 318

I believe MEXP will replace its current line of credit with a new one, at a higher credit limit. Once this takes place, and MEXP is no longer under the gun, I predict the stock will make a quick jump to the $4-5 range. It makes no sense for MEXP to start selling off assets, laying off valuable people, slowing down exploration, etc., when it has excellent exploration and drilling prospects identified, commodity prices have returned to more historic norms, and moreover it never had a problem in the first place making its debt payments. MEXP had positive cash flow from operations throughout last year, and many excellent drill sites identified from all the 3-D they shot last year. I am sure they're anxious to get on with it, then use the cash flow from the prolific oil and gas found in salt dome formations to repay the debt.

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