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

To: energyplay who wrote (33483)	7/11/2004 7:40:09 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 206115

eplay, TRGL & SNG -- To some extent both of these are one big dice roll, as is the case for just about every microcap company that dares to embark on international (or in SNG's case, offshore deepwater) exploration. That is because these small companies can't possibly try this stuff without putting their shareholders in the position where they are essentially rolling the dice. In the case of TRGL their stock price has not gone as high over its SEC PV10 value of their existing reserves as SNG did, so I don't think you have as much to lose as investors did with SNG if TRGL's Black Sea well comes up dry. Nevertheless I believe the stock could take a pretty substantial hit in such an event, and am leaning toward blowing out some of my TRGL stock before this Black Sea well gets down to TD just in case. If you do not want to invest in stocks that are "one big dice roll" then you may want to take a look at GMX Resources (GMXR). They are not without uncertainties but it would be a huge overstatement to describe an investment in that stock as a roll of the dice, IMO.

To: energyplay who wrote (33483)	7/27/2004 6:35:34 AM
From: Ed Ajootian	Respond to of 206115

Toreador Resources, TRGL -- The fact that they raised more $$ recently with convertible notes that are convertible at $8.20 has made me more comfortable about owning this one through to hearing the results of this Black Sea well they are drilling. Even if its a duster they now have plenty of $$$ to fully develop their French properties, which ought to be enough to support the current stock price. So its kinda like you have a free farm in on a quarter interest in a well that is targeting 350 BCF of gas. They should be drilling through the first zones of interest within a week.