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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (33454)	7/9/2004 1:30:30 PM
From: Area51	Read Replies (1) \| Respond to of 206113

<<they (GMXR) are selling at an enterprise value of under $.80/mcfe. I challenge anyone to find me any stock trading cheaper on this metric.>> I calculate the TRGL metric as 0.80 per mcfe (granted a turkey mcfe is probably worth less than a US mcfe so you probably can still argue that GMXR is cheaper on this metric). 13.6 million BOE proved reserves (or 81.6 BCFE) as per toreador.net 65 million EV per yahoo key statistics (less than market cap, but I guess you get to subtract cash). I looked at GMXR and was tempted but wasn't convinced that they had a plan to expeditiously exploit their reserves. I don't recall the numbers but my recolection is that they had interests in something like 50 wells and had negligible cash flow, and had plans top develop another 20 wells in 2004, which led me to believe they still were going to have negligible cash flow at the end of 2004. I know I'm probably missing something but someone has to lay it out for me in order to induce me to cough up funds here. Best Regards, Area51