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Gold/Mining/Energy : Panaco Corp (PANA) -- Ignore unavailable to you. Want to Upgrade?

To: Island Man who wrote (15)	3/16/1999 6:19:00 PM
From: Author51	Respond to of 115

Things are looking UP.....A Tech analysis shows PANA is a BUY......Icahn DID increase his position in the Co. to 19.2%......Financials are due this week.

To: Island Man who wrote (15)	3/26/2000 11:21:00 AM
From: Ed Ajootian	Respond to of 115

I'm reiterating my "Strong Buy" on Panaco, based on the 4Q report. They have gotten production back up to normal levels. With the workover they announced in January, 1Q production will likely be around 4.8 BCF, a solid 5% increase over 4Q. Then 2Q production will be significantly higher than that due to the Umbrella Point well they announced earlier this month. As you can see, the beat goes on. Their next Price Lake well (Sturlese) will be announced any day from 3/29 on. This well is the best possible kind of well to drill --- developmental at the shallow depths but exploratory at the deeper depths. At the shallow depths, it is _updip from a well which is now producing 8 mmcfd of gas. The drilling got done ahead of schedule and is on budget. Here's an excerpt from the St. Mary release which announced the spudding of this well: "The Sturlese #3 well at the Stallion prospect in the Price Lake Field spudded on December 10, 1999. This well is designed to provide an updip drainage location for the MA 22 and MA 24 sands which were productive at the Sturlese #1 well, now producing 8.0 million cubic feet of gas and 38 barrels of oil per day from the MA 24 sand. The MA 22 sand has not yet been production tested. In addition, the Sturlese #3 will be an exploration test of the MA 25 through MA 31 sands that have not yet been tested in this fault block. The well, scheduled to reach total depth in April 2000, is operated by Panaco (OTC BB "PANA")". Mindbogglingly enough, the stock will probably drift down over the next few days, due to the huge loss reported for 4Q. It would not surprise me to see it dip back under $.80 one last time, for old time's sake (we can't forget that the stock has more than doubled in the last 3 months). I would strongly suggest loading up the truck with this one. If you get any stock at all for under $.90, consider yourself fortunate.