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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Jordan who wrote (33187)	9/18/2000 11:50:12 AM
From: richard badauskas	Respond to of 50167

With oil prices screaming and natural gas above US$5.00 per mcf there is only a very small universe of tight stocks to play. Goodrich Petroleum (NYSE "GDP") is a prime example. Survived near bankruptcy about two years ago with oil near US$10 barrel. Cashflow is now screaming with last quarter at around US$0.45 cents per share! (with oil at $24 and gas around $3.00). Producing around 22mmcfe per day, this is still a small company BUT factor in the rise in energy prices and the tight share structure of around 8.9M shares (plus about 4M for debt conversion) and this one is a good chance to hit around $2.00 per share in annualized free cashflow going forward. Say 8 x 2.00 so a speculative projection is around $16 per share in a hot oil market!!! The stock is rising strongly on sales of a few thousand shares per day!!!