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

To: Tommaso who wrote (61498)	3/5/2000 7:10:00 PM
From: Ed Ajootian	Respond to of 95453

Any Panaco (PANA) fans willing to come out of the closet now? This is an "acquire & exploit" company which has most of its properties offshore Gulf of Mexico. Revenues are about 60% gas, 40% oil; have no hedges (but do have floors). They just announced a well which should add a quarter a share to their cash flow. Break-up value of $3/sh. based on year-end '99 reserve valuation. Currently trading a $.72 a share. Looking for $1 on Monday, which is the start of the CIBC Energy Conference (they are presenting there).