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Gold/Mining/Energy : National Energy Group (NEGX) -- Ignore unavailable to you. Want to Upgrade?

To: Oak Tree who wrote (151)	1/19/1999 2:53:00 PM
From: Joe Sixer	Read Replies (1) \| Respond to of 162

Oak: I am not counting on it. Holding quite a bit but really don't pay much attention. It is in an IRA and I have pretty much written it off - if it works out fine. IMO chances are not good - enormous debt, gas and oil prices down and even if prices recovered they will have continuing cash flow problems. Majority of the wells are gas I believe and you have depletion issues. $7 - not in my lifetime!! I would just like to see a buck. For now they will probably evade the Chapter 11 bankruptcy with Ichan interceding. There is some activity on the Yahoo NEGXQ thread that is keeping up with developments relative to Ichan and a possible merger with PANA which was talked about a couple of years ago. I came into the stock when Alexander was bought out by NEG. Sold some at $6+ last summer or thereabouts and averaged down on the remainder. Basis just under a dollar.