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

To: Think4Yourself who wrote (50612)	9/8/1999 3:29:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

MEXP time for the daily update (VBG); up 8%+ again today... Shameless; disgusting isn't it... having to count all that money (VBG) ! HOOOOOOOOOoooooo HAAAAAAAAaaaaaaaahhhhhhhhh ~~~ ! hmmm; from $ 1 7/8ths on friday to $2 7/16hts today = +30% in a mere 3 trading days... I guess I'm so crazy - I'm insane.................................. Breaking out over the 50 dma by the way; resistance is $3 1/4, or another .81 cents/ 30% + from here ! .... and the resistance was because of no forthcoming refi announcement - that has been acknowledged now, if not indirectly so; by K2, by MEXP itself, by Raymond James and by the meeting itself...with the Bank of Montreal. There are only 25 trading days untill the Oct. 15 meeting with the Bank of Montreal. MEXP has issued nothing negative - and there is NOTHING negative to release ! Quite the contrary in fact; there is actually some very, very strong upside news ! 1. Salt Dome has 2 wells ready to spud any time ! There progress on the Salt Domes has exceeded everyones allready positive expectations ! This is their core area - and their 3D re-work of the former seismic studies there & there making this their core area - was a company making-breaking bet. They won ! 2. Michigan production reported coming online 3. Centerville Dome heavy oil problems solved 4.Allar #6 starting to flow 5. The Blackfoot prospect is no longer a mere ''prospect'' - it is huge ~ This company is on track to do $1.00 cfps based on trailing quarters and their under the market hedges. The price has virtually no factoring for the yet to be realized higher market prices for nat gas ; as their older hedges expire into higher hedges here. $2.25 at todays open is 2.45 x cash flow per share on a trailing basis using what is a near - worst case scenario.'' - year 2000 estimates are for $1.62 cfps - that prices MEXP at only 1.38 x cfps here ?!?!... given the potential for a restructuring of their present credit line, the refinancing into a new line, the potential for other debt & equity offerings that will allow them to accelerate the Salt Dome development that has been successfull thus far; along with the Blackfoot holding - which we are basically getting ''free'' here imho; this is perhaps the last real nice cheapo/no-brainer buying opp here. Using the bottom end of the peer group cfps multiple; 4 x $1.62cfps = $6.48 shareprice for MEXP. I stand by my call that MEXP will see $5 by Xmas - and $6 is not unrealistic. They only need to announce the new Bank Credit Line. The stock goes to $4-5 off of only that. If the line allows them to substantially step up cap ex spending & starting the drill ready prospects on both the Salt Dome & the Blackfoot play - this is a $6 stock right now - needing nothing else. The Institutions who had to sell, upon MEXP's acknowledgement of being in violation of its former Bank covenants - will be able to re-enter here upon the finalization of the agreement. Secondly; at $5 another group of Institutions & Fund Managers can enter due to many having restrictions of owning sub $5 stocks... No Pump here Folks - I will keep pounding the drum... because of one reason: This is the one - that get's me rounds of drinks, dancing girls, 4" thick Steaks, Lobster Tails etc. at the Rig Party ! This is the Home Run Play for the little guy; for the individual investor - and once the Bank Facility is announced - There is no downside sub $4 ever again -period.We have a window to beat the Institutions to the party here... Doors open ! Still time to accumulate (VBG) - 30% of the volume yesterday at the last 5 minutes of trading; my contact says; Institutional buyer that does not want to get caught in the daytrading exit that they all think is here with this hooplah on MEXP. Well guess what - there is no end of the day - daytrader exits any longer; The daytraders all got washed out last Thursday !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! .... and who do we speak to about that ? I guess someone had to do it ??? People; we just saw virtually the entire E&P sector double and triple from Jan/Feb/ to the present... MEXP has had the refi with the Bank of Montreal hanging around its head - the MEXP story is from here forward. That anyone doubts that this will double, or triple from here - is to deny the reality of its unique circumstances; and most importantly - to deny what the entire damn E&P sector just did in front of our eyes ! Money in the Bank..... and nothing but Net !