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

To: Frank who wrote (63910)	4/5/2000 6:23:00 PM
From: jim_p	Respond to of 95453

Comments from Raymond James. I bought 6,000 shares. It is one of my largest holdings in my small cap basket, Comstock Resources (CRK/$5.50} Comstock Resources, headquartered in Dallas, Texas, is an independent oil and gas production company. Comstock is engaged in oil and gas property acquisitions, exploration, and development, primarily in Texas, Louisiana, and the Gulf of Mexico. At year-end 1999, the company had 375 Bcfe of proven oil and natural gas reserves. The fourth quarter of 1999 was an inflection point for Comstock as the Company returned to profitability and continues to ramp up capital spending and drilling activity. Going forward, Comstock has a sizeable inventory of drillable locations scheduled for 2000, which should allow the Company to increase production and reserves. The recent drilling successes at the Double A Wells Field have provided a new leg of growth for the Company. As one of the lowest cost producers in the industry, Comstock is highly levered to the current strong commodity price environment. Comstock is currently trading at 2.3x and 2.0x our 2000 and 2001 cash flow estimates of $2.39 and $2.72, respectively, and represents one of the most compelling valuations in our universe of coverage Jim

To: Frank who wrote (63910)	4/5/2000 6:50:00 PM
From: Archie Meeties	Read Replies (1) \| Respond to of 95453

OT, CRK. Frank, wouldn't call it sliding down the hill yet. A little selling on the news, maybe some frustrated traders, margin calls from the Nasdung damage, etc. Maybe it got a ahead of itself with this little exploration diversion, but as you see one of the wells ain't too shabby. Yes 12-14 potential is there, but it's not going to happen soon, this is a long term play on ng. FWIW, I either roll with it or trade it, but I can't do both at the same time. The ng story is not going away, neither is CRK. We were fortunate to be in the patch the past few days. Some friends of mine just had their heads handed to them on a silicon platter.

To: Frank who wrote (63910)	4/5/2000 10:18:00 PM
From: r.edwards	Read Replies (1) \| Respond to of 95453

CRK, from yahoo....... "New well @ 8 MMCFD + 600 BOPD by: oil_speculato 4/5/00 5:38 pm Msg: 1315 of 1322 is not bad news. CRK owns 51% WI in the new well which (after frac) is expected to be cranking out additional net cash to the company (based on $2.80 gas and $24 oil) of about: (75% guessed NRI)(51% WORKING INTEREST)(8 MMCFD)(2.80/mmbtu)(1.1 MMBTU/MCF)30.4 = $286M/month for the gas and (75% guessed NRI) (51% working interest)(600 BOPD)($24/bbl)*30.4 days/month = $167M/month for the oil totalling $452,000 per month in new cash flow (after estimated small LOE of about $2,000 gross per month). Not worth a decline in stock price IMHO today." --------- ----------------------------------- I believe the actual nri is about .73, THEY also have a large low risk infield farmin yet to be announced. my source is very credible. r.edwards