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Gold/Mining/Energy : Panaco Corp (PANA) -- Ignore unavailable to you. Want to Upgrade?

To: Jane4IceCream who wrote (61)	5/25/2000 10:14:00 PM
From: Ed Ajootian	Read Replies (2) \| Respond to of 115

Jane, Carl owns about 19% of the stock, per the latest proxy statement that was issued about a month ago. The stock seems to be taking off due to natgas prices going idiotic. Unfortunately there is little time for further research. Here, let me give you the one-minute line on PANA. They produce about 3.5 BCF of gas per quarter. They broke even last quarter and had about $.27 in cash flow, when natgas prices averaged $2.57. The 12-month futures strip for natgas is now around $4.15. Put all those figures in the computations and you get projected annual cash flow of about $1.80 per share. The stock is selling for about the amount of cash it will generate over the next 2 quarters! There, is that enough research for you? <g> We have a great board going on PANA over at Raging Bull -- you way want to take a gander over there: ragingbull.com Great to see some interest in PANA over here at SI. If I may ask, what brought PANA to your attention?