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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: paul feldman who wrote (43042)	4/22/1999 11:51:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

GaryB; so you're in EEX ... A good opportunity there. Somewhat of a controversial company and situation as you noted from Yahoo thread commentary. Bottomline, they are not overvalued on their reserves/net asset/cash flow valuations here; Dain Rauscher has a Strong Buy with a $11 price target and has net asset value at $7 - totally discounting anything from the Llano well in that valuation model. EEX is primarially a success via the drill bit company from here on out. EEX hired Tom Hamilton, whom reknowned Oil Analyst Fadel Gheit of Fahnestock, calls the best man in the oil business - fwiw. Hamilton took a mishmah of a company, restructured, laid off lots of employees (hence some of the anti-EEX activity on Yahoo) sold off non -core assets and made EEX into a premiere pure Deepwater GOM Exploration play. They have what many acknowledge as one of the premiere portfolio's of GOM Deepwater Drilling Prospects of any Independant of their size. Certainly they do not compare with Shell for example, but one 100 M boe find is a ''company maker'' for them. They have a couple of projects of this potential. Also, they have had top partnerships with ETP among others, in numerous partnerships in the development of their GOM portfolio. Their LLano prospect has been put on hold, pending further seismic review and the decision on re-entering to deepen, or sidetracking depending on new seismic processing. Still far from a done deal - the Llano has company maker potential... the gross unrisked reserved potential still remains in the 100-200 M boe area. They also have another Well the ''Georges'' underway and a full plate of high impact projects.