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

To: CpsOmis who wrote (85605)	1/29/2001 5:31:36 PM
From: chowder	Respond to of 95453

Hi Cosmo! Thanks for the heads up on EEE valuations. I'm looking shorter term than a buyout. Earnings should be a killer! Since I'm in at a buck and change, I can afford to wait a little longer. My INSP, that I bought this AM, is up 33% in afterhours. I love these beaten up tech stocks! dabum

To: CpsOmis who wrote (85605)	1/29/2001 6:12:03 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

>> For those counting on a 'killing' with EEE...are you sure your numbers are good for valuation? << The numbers are good. Now obviously I can't control the buyout price. In a worst case scenario I make a smaller gain than I thought, but my ave price is around 2.2 so who cares. Do your own DD if you buy at these levels. As for BARG don't know it's hedging situation, but it's debt/equity is quite high compared to EEE. EEE is somewhat unique in that they have no hedges AND very little debt. This should give them a little more leverage in during the buyout talks. Didn't you see the article about extending the data window by another week due to increased interest? Duke put EEE on the block in the high 2's to maximize shareholder value. They could turn around and sell in the high 2's but considering Duke is in the business of buying and selling energy I find that unlikely. Seems rather impatient of you to sell now, but hey what do I care, it's not my account. If EEE get's bought for cheap then it's because they see tremendous value in the buying company imho. OEI and BELW are both dirt cheap already. Yes the shareholders (TXLI and BARG) got taken out for a very low price, but the company that they'll be getting shares in probably has quite a bit of upside left.

To: CpsOmis who wrote (85605)	1/29/2001 8:40:06 PM
From: isopatch	Respond to of 95453

No offense intended Cosmo. But IMHO, you left some a fair amount of $ on the table. JimL and I are about on the same page on EEE. And I think you should give careful consideration to the points he made in his post. As one of the boards resident geology buffs . I would stress one other important valuation consideration. EEEs huge, VERY NG prospective offshore Nova Scotia acreage block. KMG was only too happy to take 1/2 the W.I. on as well as operate the exploration and development program. When a top deepwater outfit like KMG signs on with considerable cash in hand? You've got a world class NG prospect. Based on the geological trend identified by drilling near this acreage EEE and KMG may be sitting on a giant NG field. No serious bidder for EEE will fail to put a high premium on that acreage as they assemble the various components of value in EEE for their bid. Anything is possible. But I'll be very surprised to see a deal struck for less that 3 1/2 and it could go for $4. Isopatch