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Gold/Mining/Energy : CPE: Callon Petroleum Company -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (6)	11/7/2002 6:08:09 AM
From: Ed Ajootian	Read Replies (1) \| Respond to of 31

Great call on continuing to buy this turkey right through the runup. You wimped out at the very end when you had a partial fill to buy at $5.40 and didnt' move up the bid, but that's OK, you should get your chance later on the profit taking. We know now why the stock ran up. It wasn't due to any positive news in the MDR release, but rather just due to a plain old fashioned ass-kickin' quarter for CPE. Totally blew away the analysts -- consensus was a loss of $.23 with an actual loss of only $.12. And the best part is that, based on new company guidance, 4Q could easily be breakeven, vs. consensus loss of $.16! I like the stock better at $5.50 now than $5 before this news. The company has much more legroom to not only just hang on but actually resume their Shelf drilling in the next 5-6 months while they wait for the Medusa to start up production.