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

To: CommanderCricket who wrote (49136)	8/10/1999 12:56:00 PM
From: John Doyle	Read Replies (1) \| Respond to of 95453

And I thought I was a fool for selling FLC yesterday!

To: CommanderCricket who wrote (49136)	8/10/1999 1:01:00 PM
From: CommanderCricket	Respond to of 95453

Scratch TEXP as a laggard. Up 8.5% so far today. NG at $2.78!

To: CommanderCricket who wrote (49136)	8/10/1999 1:01:00 PM
From: SliderOnTheBlack	Respond to of 95453

MEXP just had trading @20,000 total shares all buys at 11:51am at $3 ... it will be real interesting here shortly. Going to be disappointed if I come back and this isn't at $4 fwiw. They did well hedging - 50% of July-Oct production at $2.31 and 1/3rd of Nov -March production at $2.63 ... still leaving upside if we see a ''rationing by price'' this winter in Gas... Sometimes you just have to be patient - Pipeline & connection due soon to a few wells - good Salt Dome Drilling Results - sold some property interest to pursue best prospects, making all its debt payments without problem, they also may be back in compliance and be able to draw upon their EXISTING bank credit lines - and not need to pursue a refi.... if so, they will be able to dramatically step up cap ex spending/drilling and this goes to the Moon... $5 is fundamentally supported right here - right now - just with 3 x 2000 cfps - still well below its peers... This is a NO BRAINER - the only risk was BK - and that is NOT even a remote possibility - zero, nada - aint happenin.... add the upside to their Blackfoot play - and this is a stock we will all be talking about 2 years from now... They are confident, calm, focused and EXTREMELY OPTIMISTIC in Traverse City.... This is no Pump --- this is a well run, 50+ year old family owned company - highly, highly respected company within the Industry - with a history of top Industry partners; that was hit with an accounting anomaly - period. BUY it and sit on it - sure, it will continue to be a good trader; but his is a 4+ bagger over a couple of years max. $9 by the end of Q2 2000 is not unrealistic with re-opening the bank line... that would only be a peer average of 5-6 x cash flow - with no upside factored into the upcoming drilling portfolio...which could be ramped up shortly.