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

To: articwarrior who wrote (50182)	9/1/1999 7:58:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

Interesting things happening in small cap E&P land financially / balance sheetwise re: EPEX biz.yahoo.com ... some interesting insight here in this PR to the ''state of the union'' in small cap E&P-land. Note the very important comments concerning the ''value'' assigned by the ''Banks'' for the property they just sold. The ''Bank value'' assigned to the properties for the borrowing base was $500K the actual, real-world sales price was nearly 8 times higher @ $4 million.... Some of these companies may not be as leveraged as people think... Those companies like EPEX here & RRC of late; who can simultaneously pay down debt & reposition their capital more effectively, are going to exit the next 2-3 quarters of this rich commodity price environment as completely new companies financially... There is a tremendous amount of value here in the oilpatch and some of these companies deleveraging their balance sheet are looking very undervalued & have huge upside.... EPEX will use the funds to pay down debt and to immediately pursue more attractive ''drill-ready'' prospects. I like RRC CRK MEXP for the leveraged/undervalued plays; HSE for its exceptional leverage in cfps & earnings to rising prices, XTO for its aggressive mgmt, exploration & growth upside, OEI for its total undervaluation here & a huge offshore portfolio of top Intnl prospects, EEX for its value & the company maker potential of its drilling prospects - very, very cheap here; then there is the BELW, EPEX, TMR, VEI, BEXP etc, as interesting value & exploration-growth plays. Lots of opportunity there. PS - interesting insight into First Energy - RRC's new Joint Venture partner... biz.yahoo.com