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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 (45370)	6/28/2005 5:56:23 PM
From: DELT1970	Read Replies (1) \| Respond to of 206209

GMXR was started as a Strong Buy today by First Albany with a NAV-based target of $19. They trumped Hibernia's target by a buck and see 2005 cash flow per share of $0.94, a dime ahead of Hibernia's $0.84 estimate. Everybody's optimism is based in part on the third rig GMXR hired to work in its 100% WI section of their East Texas play. It was supposed to be in the field and turning to the right in June, however, it's still in the shop being retrofitted with bigger pumps. I'm not sure if this will result in any Q3 results disappointment, but I suspect the move today may be a bit too exhuberant. May have been some shorts feeling pressured.