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

To: SliderOnTheBlack who wrote (59890)	2/7/2000 1:11:00 PM
From: ChanceIs	Respond to of 95453

BSNX - Owner's Equity History..... There are many ways to evaluate a company. I always look at the Owners Equity as some indication of corporate health. If not in absolute terms, than the trend can provide some insight. From Market Guide First absolutes: '94 - $72.5MM '95 - $53.2MM '96 - $68.7MM '97 - $121.3MM '98 - $94.2MM Remember that all E&Ps suffered an incumbrance (write down) due to the low price of NG on 12/31/98, $1.70. That $94.2MM '98 amount should easily be 30% higher due to the much better '99 NG prices. Basically in '98 you would have had to pay $18 for a share of that $121MM. Now the trend: Q3 '98 - $124.8MM Q4 '98 - $94.2MM (the SEC required write down) Q1 '99 - $94.3MM Q2 '99 - $165.3MM Q3 '99 - 171.0MM Do I detect an uptrend here??? Remember that once an oil/gas asset has been written down due to a low price at year end, it can never be written back up as an accounting procedure - that big gain at Q2 is not accounting smoke and mirrors (it may have been due to a sale and purchase though). So thank you whoever first posted BSNX on this thread. And thank you J. Pierpont for the downgrade and letting me buy a piece of a $171MM pie for $7.75 that I would have had to pay $18 for two years ago when it was only worth $121MM. Analysts?????