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Gold/Mining/Energy : Strictly: Oil and Gas Exploration Companies -- Ignore unavailable to you. Want to Upgrade?

To: Robert T. Quasius who wrote (28)	8/16/1998 11:31:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 318

Anyone follow Callon Petroleum/CPE ? Interesting situation as they have 8.03 Million shares; but only a 1.4 million share float; with 591,000 of the 1.4 million share float shorted ! - will take 37+ days to cover !!! They have 5 analysts following them - all rate as Strong Buy. 85% natural gas & some nice new finds coming online. 50 year old business; debt reasonable at .53 & selling at .73 of book value. Has positive earnings and is projected to double EPS next year. moderate institutional ownership @ 48 for 37.2 % of float. Selling 20% below 30 month low... I love the heavy short interest with their 85% natural gas weighting going into cold weather - irregardless of crude pricing, this could be a nice ''pop'' from short covering alone, let alone a nat gas move upward... Seems too good to be true - what am I missing ?