Panaco Corp (PANA) | Stock Discussion Forums

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Gold/Mining/Energy
Panaco Corp (PANA)

An SI Board Since October 1997

Posts	SubjectMarks	Bans	Symbol
115	1	0	PANA

Emcee: T-Lo Greens	Type: Unmoderated

Introduction Market Data Compact

I came across this company by accident while researching info on AIPN, and bought this morning at $5 1/4. Let me give a brief synopsis of the company and why I feel this is a sleeper.

PANA owns/has interests in 575 wells located in the Gulf of Mexico and onshore in KS, LA, OK, and TX. They acquire producing properties and develop them by reworking, recompleting, and drilling developmental/exploratory wells. Clients include Texaco, Citgo, Conoco, and Arco. No institutional ownership, but Carl Icahn holds 13%.

Shares outstanding 23.7 mil, float 11.6 mil. Latest quarter (Jun 97) revenues up 79% to 6.2 mil - for past 6 mos revenues up 32% to 14.3 mil, while net income was up 63% at $1.1 mil.

Ratios: P/E NM, P/Book 3.7, P/Sales 4.14, Current 1.60
(Source: Baseline Financial & Yahoo)

Go to reply# or date (mm/dd/yy):

Reply	Message Preview	From	Recs	Posted
115	Ed, Sorry I missed the RB post. It is always a struggle to get through the spa	Bearcatbob	-	12/5/2000
114	BCBob, As I responded on the RB Board, "no". Not sure why everyone	Ed Ajootian	-	12/4/2000
113	Ed, Do you have any idea what price PNO will recieve for the new hedge they ann	Bearcatbob	-	12/4/2000
112	Bob, The 10Q will obviously show what the debt level was down to as of 9/30.	Ed Ajootian	-	11/12/2000
111	Ed, Making the payment of debt well known is an activity that I salute you for.	Bearcatbob	-	11/12/2000
110	For 3Q, PNO's EBITDA/Interest ratio was about 4.3:1! The company obviously	Ed Ajootian	-	11/12/2000
109	BCBob, Key event coming up is the results of the next East Breaks well. The	Ed Ajootian	-	11/11/2000
108	Ed, Perhaps this is a redundant question you have had before - but please humor	Bearcatbob	-	11/11/2000
107	Time for my quarterly production forecast. Here's the latest actual and pr	Ed Ajootian	-	11/9/2000
106	Time for my quarterly production forecast. Here's the latest actual and pr	Ed Ajootian	-	11/9/2000
105	Steve, Great to hear of the low entry points you've had in PNO. Wondering	Ed Ajootian	-	11/5/2000
104	Ed, I bought in the first time at .92 and again at $1.56, I wish I had bought mo	stevedhu	-	10/16/2000
103	Panaco is in very healthy shape -- Bank One Capital Markets has a "Buy"	Ed Ajootian	-	10/15/2000
102	This latest East Breaks news is very exciting, and has finally compelled me to j	Ed Ajootian	-	9/27/2000
101	Hopefully this latest rally in PANA left behind enough potential buyers so that	Ed Ajootian	-	9/4/2000
100	Bob, IMO Carl just wanted to add to his PANA position and knew he couldn'	Ed Ajootian	-	8/23/2000
99	Stevedhu, Rumor has it that Carl owns $85 M of the $100 M bonds outstanding. So	Ed Ajootian	-	8/22/2000
98	Icahn boosts Panaco stake Also: TheStreet.com's Cramer ups holdings By Mat	Bearcatbob	-	8/21/2000
97	Dan, Great to hear you joined us! I believe the current price ($1.90) is a gre	Ed Ajootian	-	8/20/2000
96	Jeff, Thanks for the tip. Looked at FBR briefly and will pass. I figured ou	Ed Ajootian	-	8/13/2000
95	Bob, As great as the $1.75 annual cash flow figure may sound, I believe Larry i	Ed Ajootian	-	8/13/2000
94	ED, found you. Still following PKC? Check it out. It's now FBR and has been	Jeff	-	8/12/2000
93	Ed, I listened to a replay of the call last night. Wow! From my notes of the	Bearcatbob	-	8/11/2000
92	Ed: I have been absent for a while, but did eventually feel comfortable enough t	Sleepman	-	8/8/2000
91	Bob, Not sure. Are we in daylight savings or in standard time now, who knows.	Ed Ajootian	-	8/7/2000

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