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ESNJ was sent out on 5/15/00 @ 2 3/16 to subscribers of scottonstocks.com
With highs over $30 in 94, when oil prices were also rising; and 52 wk low of 1 7/16, there seems to be a nice comfort zone
Esenjay Exploration, Inc. is an independent energy company engaged in the exploration for and the development of natural gas and oil. It has an inventory of technology enhanced natural gas exploration projects along the Texas and Louisiana onshore gulf coast. Its focus is on generating and enhancing these projects with computerized exploration technologies and 3-D seismic data prior to drilling.
Because I don't anticipate oil prices dropping much anytime soon, I expect this to be one of many oil stocks reaching new highs this year.
They're sharply below historical highs and well positioned to benefit from steady to rising oil and gas prices.
Oil is flowing and cash is available as needed
From their 10Q
The Company has previously announced that it expects the accounting methodology to continue to have a significant effect on reported earnings through the year 2001 -- a period during which it anticipates continued growth in both its proved oil and gas reserves and its net cash flow from operations.
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