Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: upanddown who wrote (48020)	7/15/1999 9:23:00 AM
From: Ken Robbins	Read Replies (2) \| Respond to of 95453

CNBC reports a major discovery by Shell in the Mississippi Canyon, GOM. Estimated 1 billion bbl reserves. 6000 feet water. Anyone have details?

To: upanddown who wrote (48020)	7/15/1999 9:38:00 AM
From: Think4Yourself	Read Replies (2) \| Respond to of 95453

You have valid points. I don't go back more than a quarter in this industry to compare results. A few reasons: 1. Property acquisitions/dispositions 2. Accounting practices were different, negating any comparisons made 3. 3D Seismic has changed the playing field 4. # shares outstanding changes For example, last year TMR bought the LA properties from Shell for $37 Mil and 12 million shares of stock (+13 mil if preferred converted). Add that to the writedown and you have the vast majority of that hefty loss. Looking to the future, Analysts like TMR better (see post 47974). TMR has lower costs and last quarter TMR's production increased while CRK's decreased (according to the companies) Just for grins I picked a random quarter 3/97 to compare. Man, was I ever surprised! A little quick math between then and now reveals that TMR IS GROWING MUCH MORE RAPIDLY THAN CRK 3/97 CRK TMR Gas 5520 1442 mmcf oil 299 153 mbbl 3/99 CRK TMR Gas 6036 6109 mmcf oil 686 1044 mbbl As I have said before, both appear to be good companies.