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To: Gary Burton who wrote (51151)	9/15/1999 11:28:00 AM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

Gary - E&P's over 4 that look good to me include... TMR, CRK, ROIL, RGO, OIL, XTO I think CHK will soon be over 4 soon so I don't think it should be passed by. CHK only has about 5% hedged.

To: Gary Burton who wrote (51151)	9/15/1999 12:39:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

O/T GaryB;... small cap E&P Choices... "Excluding RRC & MEXP" ... ? - now, why would ANYONE want to exclude those 2 ? Even if you own them, buy more - they are still way too cheap here imho. Hold RRC to $7+ & MEXP to at least $4+ nearterm and the only thing in stopping MEXP from reaching $6-$8 again is time...bank on it. Seriously; If I post a small cap and especially a micro cap list - then I can only get accused of hyping my own positions etc. I can't win.... Actually I am doing the "Got MEXP" thing - to prove that I can't hype/move it.... but, it seriously is my favorite short AND longterm choice here.However, it is a small float, 70K volume per day stock; so it may limit many buyers; but look at this chart and tell me where it is going....lots of upside left here. MEXP in a relative short period of time will have production, cash flow and earnings above where it supported $8-$12 valautions ... and they have not diluted, nor taken on a new debt load. There is nothing other than time that can keep MEXP from returning to its prior valuation levels upon the Bank of Montreal Credit Line redetermination. This is an "event/story" stock and both the short and longterm outlook is outstanding. MEXP Chart: siliconinvestor.com ... concerning the entire small cap & even the E&P sector itself to a degree; it is really a situation of "giving a man a fish - and feeding him for a day; versus teaching him to fish - and feeding him for life" type of situation imho. I have just brought some more funds into the sector and I am averaging into just a few stocks here, some that have relatively low volume; it wouldn't be fair to myself to post them here. There are plenty of companies that still fit these parameters. They just require a little digging. ROIL whom many have spoken about in the past is a prime example. It sputtered and blew off more than a couple of times and was quite volatile before finally turning the corner and running to a triple. Quite a chart here: siliconinvestor.com ... notice the dramatic selloffs in ROIL in Feb & late March; not unlike MEXP... nor will its run be unlike MEXP's...Those who bought into the blow off, or who held ROIL from $4.25 in March thru it's sell off; dropping in half to $$2.25 only to see it then turn & triple were greatly rewarded. MEXP has great similarities. It has been a stock that has paid in spades to trade, due to the volatility; but there can be no denying it's ultimate rise to a fair valuation and it also has at "least" a triple in it before reaching anything near fair value. Many Oilpatch investors never begin to look into the E&P sector. So, to just point them in the right direction, so they can do their own "DD" is the best thing to do here imho. I would begin with your own brokers research dept, then the "FREE" online research trials from the likes of SSB, Prudential, Merrill Lynch etc. - most of them cover "some" small caps; I'd start there. Then I would skim the Yahoo threads, their sector lists, research some of the names mentioned in some of the newsletters etc. and use those as "leads" to do the "DD" on... Actually there have been some great buys in larger caps of late. OEI was one of my fav's - it sold off to $9 7/8ths days ago; then turned & ran on strong Institutional buying from the Energy Conferences of late... up nearly $2 very quickly. Any retrace sub $10 and OEI is a "must own". Any substantial retrace in some of the mid cap names in sympathy to an OSX sell off - is also a strong buying/entry opportunity. Quite simply for the small & micro cap E&P's - this is an "ANOMALY" buying opportunity imho. We are in a period that these companies are being valued at multiple valuations near their "historic bottoms" but yet; the very commodities that they are leveraged to, are simultaneously trending toward their near "historic highs".... conversely; the OSX companies are at historically high valuation multiples, PE etc. and their fundamentals of rig counts, dayrates, backlogs do not support their present valuation multiples; they are here based on not unrealistic positive expectations; but in comparison to the valuation to fundamentals of the E&P sector - there is no comparison. ... and that is the situation that an investor should live for. Seize it - these windows of opportunity do not stay open for ever... There are quite a number of small cap E&P companies poised to become the next "ROIL" chart... time to go fishing...