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Microcap & Penny Stocks : Kelly Oil (KOGC) -- Ignore unavailable to you. Want to Upgrade?

To: tom rushing who wrote (9)	1/24/1998 3:10:00 PM
From: wolfdog2	Read Replies (1) \| Respond to of 50

Perhaps someone could explain the bull case for this company. I can't find the shareholder value, but maybe there is something that I'm overlooking. What I do see is that they have negative cash flow and are expected to earn only about ~.04 next year. They also have a couple of hundred million dollars in debt and only 300 bcf in proven reserves. Is there something that I'm missing here? It looks to me as though there are much better plays in the oil patch.