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

To: Razorbak who wrote (48827)	8/4/1999 1:03:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

BEXP..... Enron has $50 Mill invested etc.... this is a diamond in the rough.. =================================================== <<Bud Brigham, the Company's Chairman, CEO and President, stated, ''I am pleased with our Company's significant accomplishments during the first half of 1999 and look forward to building upon and capitalizing on these efforts through our second half drilling program. We completed a number of initiatives established at the outset of 1999 to improve our Company's capital resources, the most recent of which was our June 1999 property sales and the associated increased bank borrowing availability created from these divestitures. Our Company's current net production volumes have increased 33% from the second quarter 1999 on a comparable basis by adjusting for our recent property divestitures, due primarily to our profitable 1999 drilling, despite lower levels of drilling activity than we would have preferred. We expect this production growth to become more apparent in the third quarter, as will our corporate cost reduction initiatives.'' Bud Brigham further indicated, ''We believe our accomplishments thus far in 1999 are indicative of the quality and potential impact of our prospect inventory, and that we are well positioned to capitalize on some remarkable and high potential drilling opportunities in the second half of this year. For example, we plan to spud several wells in the amplitude-related Frio play in South Texas where our Company and other operators have experienced significant recent drilling success. The first well, planned to spud in August, will test an amplitude-related prospect that is analogous to that of two nearby wells in the same 3-D program that have each averaged over 30 MMcfe per day during the first ten months of production. ***** If our well proves to be equally productive, it alone would increase our Company's net production volumes and revenue by more than 50%. Therefore, we are very excited about our drilling program planned for the balance of 1999, and we are eager to report the progress of these wells during the next few months.'' =================================================== I hear (not from the company... just RUMOR & INEUNDO (vbg) the seismic that VTS did for Brigham would make the most conservative of Geologists froth at the mouth... ENRON thought so (don't under-estimate the significance of their presence here !!!)... this will NOT stay a $2 stock... Bud Brigham has his ass riding firmly on these prospects as well - I be likin that (VBG). ... low cap ex spending here is delaying what otherwise would be an exciting growth curve; ''if'' they hit one of their ''company makers'' here - then this runs like a gazelle & if not; it's not priced in here and $2 is THE floor imho.