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Gold/Mining/Energy : Remington Oil (REM) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Lee who wrote (184)	12/26/2002 10:08:35 PM
From: Ed Ajootian	Respond to of 192

Well I'm now the proud owner of a healthy amount of REM May $17.50 calls, at an average cost of around $1.60. If they really find gas under that salt dome the stock's gonna go to $25 by May (i.e. after they drill the second well there), in which case I virtually quintuple my money. They've already found gas in a secondary target of the well, so they won't have to announce a dry hole if they don't find anything deeper down in the primary target. I believe the stock should go to $19 just on the other new production being added this quarter, plus natgas prices going idiotic. So I figure I've got a free shot at quadrupling my money or more, with very moderate downside risk. Here goes nothing!