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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL -- Ignore unavailable to you. Want to Upgrade?

To: RonN who wrote (945)	1/12/1998 10:20:00 PM
From: Patrick J. Saunders	Read Replies (2) \| Respond to of 1017

RonN, Seems like all the other drillers and E&P oil firms have been getting killed recently. I figure this is the ONLY reason why CWEI has been doing a decent job of holding its price up. We need some statistical analysis now: (1) What does a Cotton Valley Pinnacle Reef oil well do to the bottom line in barrels per day. (2) What's the probability of striking a good well from these formations? Any predictions based upon past drilling successes? (3) How much/long does one of these 15K deep wells produce? (4) How much capital to drill it? (5) Does CWEI have access to the required rigs? I understand that contrary to the current Oil Service Sector prices, rigs are still hard to get. (6) Can CWEI sell the gas off at a profit with a hedge arrangement... V/R Pat Very Long cwei....

To: RonN who wrote (945)	1/13/1998 1:50:00 AM
From: Taylor Mill	Read Replies (1) \| Respond to of 1017

Ron N. Let's face it --- this was a "no news" press release. Nothing to get excited about and the market rightfully ignored it. "I can't believe the news that I've been waiting for on this stock for the last year is finally out and should be producing big gains in the pps but nstead it just sits and then lies down." Based on the location of the CWEI survey, I would have been shocked if they reported there were not "reef type" anomalies. Thus this release is insignificant --- a non-event. CWEI is down like all other E&P companies whether we like it or not. If you expected this release to impact market sentiment then you had unrealistic espectations IMO. TTG with a drill bit inferred and tested major discovery suggested to be 1 tcf has not been able to sustain any significant gain either. E&P is just out of favor. The whole sector lacks buy volume. Hang in there.