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

To: otter who wrote (55232)11/22/1999 7:48:00 PM
From: sportsman  Read Replies (2) | Respond to of 95453
 
otter,
I have been in OIL since earlier this year at $12. I'm not selling. I thought about it a few trading days ago when it touched $27. Now, I hope it drifts down to $20 and I'm going to pick up some more. We know now that they have a world class find in EG, but it is going to take time to develop. I don't think most investors have the patience. With the EG find and the JDA in SEA, this is going to be a real winner in late 2000 and 2001. IMO, this is a gift of a lifetime IF you have a long term perspective.
Sportsman



To: otter who wrote (55232)11/22/1999 9:43:00 PM
From: Taylor Mill  Respond to of 95453
 
otter

A couple recent brokerage opinions on OIL show the following

CSFB -- based on 7x EBITDA a target of $25

Dain Rauscher --- a NAV of about $14.25 not counting Eq Guinea and about an additional $7 for the new discovery

These two seem pretty consistent when you consider shares typically trade at small premium to NAV

Remember fully diluted shrs are about 57 million not the 36 million currently traded


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