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

To: Gary Burton who wrote (48581)	7/29/1999 3:15:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

I bought RRC at 5.50 today. Now own 3 micocap ep's.

To: Gary Burton who wrote (48581)	7/30/1999 1:05:00 AM
From: SliderOnTheBlack	Respond to of 95453

GaryB; re: CRK's 2000 cfps est is $2.26 $2.26 x 3-5 lowside = $6.78 to $11.30; traditional valuation is 4-9 times... I could see $10 by Q2 2000. CIBC had RRC's ''fair market value'' @ $6.03 and it's ''adjusted fair market value'' @ $8.86 Company has had an 80% drilling success rate in the GOM ! They are reducing debt, enhancing liquidity - and what most people do not realize; is they are poised to make a strategic acquisition here ! - and the Street supports that move... They ARE replacing 1999 production, when the undermarket hedges come off in Oct. - then this stock runs like a Stallion imho; as they are contemplating (they are) raising cap ex spending from get this - $15 Million to $30 to $40 Million ! What do you think will happen to cash flow with a near tripling of cap ex spending ? Debt ratio is now down to 66% hardly a Razorbak Altman Model-BK Posterchild example any longer...(VBG). I see $7 as a strong possibility this fall & conservatively expect to ultimately see $10 within 12 mos. - $12 with a good acquisition and ''if'' they raise cap ex spending to near the $40 M number - and with a Nat Gas crunch this winter ???? good luck