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

To: jim_p who wrote (38090)	1/4/2005 5:10:28 PM
From: Ed Ajootian	Respond to of 206093

jim_p, Thanks, I went to the SEC site and realized I had it backwards. The general rule is that you use year-end prices, but there is an exception that if you woulda been required to do a writedown, but prices have since recovered, you don't do the writedown. Otherwise there is no exception to the requirement to use year-end prices. Regarding EP, thanks for the help re: what to focus on. I went back to a report that MSDW did on them in October and per them the maintenance cap ex for the whole company is about $220 M per quarter. For 3Q they generated right around that amount of cash flow from ops before working capital changes, and a little less than half of their EBITDA was from gas production. I have bought a small amount of Jan '06 $12.50 puts, it should be an interesting ride if nothing else!