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

To: grayfish who wrote (184)	4/26/1999 10:00:00 AM
From: William JH	Respond to of 318

Looks like it's me who is missing something. I have to go to work shortly, but the information I went through about a month ago was different re cash and equivalents. Will check further when I have time, but it sure looks like I was wrong. Thanks for the info. I'll be very happy to be wrong here as I own this stock and have hopes for a nice appreciation. Regards, WJH

To: grayfish who wrote (184)	4/27/1999 12:22:00 PM
From: William JH	Read Replies (1) \| Respond to of 318

Mr Grayfish - I did a sloppy job on the PETD 10K. I stopped printing after 35 pages, so never got to the balance sheet showing the $35mm cash. Anyway, under "Interest Rate Risk" they show $13.7mm cash in interest bearing cash and equivalents. On the balance sheet they show $34.8mm cash, but under liabilities they have a debit of $28.3mm for future drilling contracts, which I am assuming has to do with the Q4 drilling program money they raised. At this point I have to say that I don't know anything except that I don't expect PETD to go broke any time soon, and I'm long the stock. Regards, WJH