Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Malcolm Winfield who wrote (465)	2/27/2001 12:08:56 PM
From: thestockrider	Respond to of 23153

Hello, don't know if I'm welcome here. Question: what gives with EEE not releasing quarterly financials? I sold at $2.80 because I thought their execution in existing properties would fall short again. OT: How long is the infamous poster banned for? He has resurfaced here: messages.yahoo.com Given how long it took to start a thread like this, I thought that most of you tacitly supported the obnoxious members of SDOFS. BWDIK. Best of luck, -thestockrider

To: Malcolm Winfield who wrote (465)	2/27/2001 3:36:25 PM
From: Aggie	Read Replies (2) \| Respond to of 23153

(EEE) Malcolm, hello, From the Yahooligan board: "As of 12/31/99 EEE reported net proved reserves of 487 bcfe. Waterton had 165 bcfe and Caroline had 89 bcfe for a combined 52% of EEE's net proved reserves. So EEE sold these proven reserves for $0.69C/mcfe. The price seems very cheap. In addition, Waterton and Caroline were shown to contain another 71 bcfe of "probable reserves". (All of above reserve numbers as of 12/31/99.) Both of these fields were known to have technical problems and the Caroline reserves are sour gas with limited marketablity. Good news is that after the transaction closes EEE will pay off a large portion of it's debt. What's left: EEE retains the Olds area (214 bcfe of P+P reserves), Strachan area (which contains the recent exploration success at Swan Hills), and Three Hills area which is a sweet gas, low operating cost, highly profitable property. EEE also retains 460,000 net acres of undeveloped leasehold in the Alberta foothills. They are currently drilling in this area. They also retain the JV with KMG offshore Nova Scotia." The gas may be sour, but it's a sweet deal indeed for Hunt in my opinion - a hedged purchase, so to speak. If the rest of EEE is sold off piecemeal, my guess is that we're a tree in for a pickin'. I bought in to EEE at around $1.62 about a year ago. I still think that it has the potential to pop $3.50 US, but not if it's handled this way. Nova Scotia is the plum here. The "undeveloped acreage" will be suitable for weekend walks, but nothing in the way of revenues will occur in a realistic timeframe (my opinion, not fully informed). Nova Scotia is attractive for its proximity to hungry US east coast demand and a respectable array of operators. Can anybody put their finger on why the price tanked to this degree on the news? Was everybody expecting a clean high-dollar sell? Just wondering what the consensus is. Thanks and regards to all, Aggie