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

To: big guy who wrote (40076)	3/11/2005 11:29:29 AM
From: profile_14	Read Replies (2) \| Respond to of 206336

"Crude prices have rallied strongly despite further builds in US crude and gasoline inventories beyond both seasonal and consensus expectations, and it highlights the growing disconnect between pricing and inventory movements." Bernstein Research Call, March 4, 2005. "...as we exit winter, the oil market will become less interested in distillate stocks, which remain below seasonal levels, and more focused on gasoline stocks, which are well above the seasonal norm, as the driving season gets closer. As a result of these two factors a pull back in crude looks probable although this is unlikely to be below the $40/bbl mark." Bernstein Research Call, March 4, 2005. I tend to agree and think the odds are in the favor of a pullback, at which time one might focus on deepwater and offshore drillers like ESV, RDC, GSF, and RIG, where the acceleration in day rates will continue to be greatest.

To: big guy who wrote (40076)	3/11/2005 1:51:38 PM
From: Area51	Read Replies (1) \| Respond to of 206336

Nice chart. Thanks for posting it. I also agree that ARD is very interesting here. If my calculations are correct it has increased production from 700 BOE per day in Q3 to 1100 BOE per day run rate at the end of year. Also valued (enterprise Value)at less than $1 per BCFE. And at a large discount (<50%) to Present Value. Rather expensive on a trailing price\ cash-flow or PE but perhaps they can correct that. If anyone is aware of similar values I would be obliged if they would post that information. Thanks, Area51