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Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera! -- Ignore unavailable to you. Want to Upgrade?

To: alchemy who wrote (1578)	11/26/1997 12:23:00 PM
From: Y-fall	Respond to of 4736

Ask .12 WOW

To: alchemy who wrote (1578)	11/26/1997 12:32:00 PM
From: alchemy	Read Replies (2) \| Respond to of 4736

Hello NAMXers: I could use a little help. In the past, I have found that developing an earnings spreadsheet to project revenue can be an investor's best friend. Despite the fact that I have invested in NAMX, I am a fundamentalist at heart. The problem with microcaps is that we have to be our own researchers and analysts. Few with the right skills follow these emerging companies. I have createed a spreadsheet in Microsoft Works that I plan to use to track the progress of the various projects that NAMX will be involved in. I don't intend this spreadsheet to include all elements of a business, I just want it to give me a better than a rough idea of where a company is going. If you would like a copy of this work in progress, drop me an e-mail. It still needs some serious tweaking and is of course incomplete in many ways. I am listing the headings for my spreadsheet with pertinent values. I have taken information from Mike Currie and bob s's well appreciated contributions. My ultimate objective is to get an idea of the EPS that each well will contribute to 98 earnings and a rough idea of the total 98 EPS. Since the company has not officially informed us of the shares outstanding, I am using the total authorized total of 100,000,000. This automatically casts the EPS in the most conservative light possible. (If the company should choose to give us the actual figure for outstanding shares, we would certainly plug it in.) I will try to update the spreadsheet as news becomes available. The headings are: Well Designation Production (MSCF/Day) Gross Rev./Day (Tot. Daily Prod. X $2.60) Gross Rev./Mo. (Above) x 30 Gross Rev./Yr. (Above X 12) Drilling Cost ($300K) (I wonder if this is too high considering the number of wells they are drilling and their close proximity.) Operating Expenses ($0.10/mcf) (Opex is lower than Mike Currie's estimate of $0.25/mcf. I assume that we will be experiencing some decrease in operating cost due to the size of the field and number of wells.) Annual Royalty: 16% (This is a high guessitmate. The company has not released this info.) Estimated Annual Net Earnings (This is figured by subtracting drilling cost, opex and royalties from gross revenues.Taxes and GS&A costs are not included in this figure.) Estimated Earnings Per Share (Est. Ann. Net/100,000,000) Your comments, refinements and additions will be appreciated. marty