What is the name of a small American company that 1}specializes in
coal bed methane(CBM) recovery/production, 2) has been called "the
next 'Drunkard's Wash'" (a wasteland now owned by Phillips Petroleum
and Texaco with 525 producing wells, 3) its current proven reserves
are worth about $720 million (at the wellhead), 4) the company's stock
is worth $109 million today, 5)its wells are on the fields of the
Great Plains, 6) pumps 3.2 million cubic feet per day (Feb. 2004
output), 7) since then five more wells are on line,to bring total
output to 6.4 mcf per day, 8) sels its gas for about $4.60 per
thousand cubic feet, 9) the company is waiting on an Environmental
Impact Statement approval to begin drilling on the other 90% of their
land, 10) by 2007, it could have over 100 wells, 11) insiders hold 30%
of the shares? |
Request for Question Clarification by
juggler-ga
on
29 May 2004 03:07 PDT
With regard to the statement "the company's stock is worth $109
million today," should we understand "today" to literally mean May 28,
2004?
Or is there any possibility that "today" just refers to the stock
value on some recent date but not specifically Friday?
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Clarification of Question by
eusonia-ga
on
29 May 2004 17:11 PDT
The statement I am basing this on is approximately as
follows,"Conservatively, the company's discoveries are worth around
$360 million, but its stock trades for less than $190 million today".
So I would say that your latter interpretation is correct, namel that,
"that "today" just refers to the stock value on some recent date but
not specifically Friday".
And thank you for your prompt attention to my question so far.
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Request for Question Clarification by
juggler-ga
on
29 May 2004 22:59 PDT
Hi,
Thanks for your clarification. I notice that you now mention that the
"stock trades for less than $190 million today." Earlier, you had
written "$109 million." So the figure is actually $190 instead of
$109 ?
Is there any possibility that you could provide the complete text of
the description on which you're basing this question? Is it from a
web page or newsletter?
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Clarification of Question by
eusonia-ga
on
30 May 2004 00:40 PDT
Hi.
I apologize for the conflicting data. The correct capitalization is $190 million.
I got the data set from a friend. It is the best I have. Please give
it your best shot.
Thanks.
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Request for Question Clarification by
juggler-ga
on
30 May 2004 00:55 PDT
Well, some of the descripion sounds like Fellows Energy.
See:
http://www.fellowsenergy.com
And:
http://www.dbusinessnews.com/print.php?sid=2257
However, the market cap doesn't fit. Fellows' market cap is around $50 million.
I'll keep working on it.
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Request for Question Clarification by
juggler-ga
on
30 May 2004 01:16 PDT
Sorry for that typo:
"description"
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Request for Question Clarification by
juggler-ga
on
30 May 2004 01:45 PDT
Just an update... We can rule out Fellows Energy. Not only does the
market cap not match, but the company's production is not comparable
to 6.4 mcf per day.
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Clarification of Question by
eusonia-ga
on
30 May 2004 02:02 PDT
I can see that we both are night owls!
Maybe I can clarify the 6.4 mcf per day. My friend's data says,
"Recently, output went up another 50%. Plus five more wells are now on
line (which I did mention). This should produce 6.4 mcf per day --
double the output from February, 2004".
I hope this helps, and I apologize for not including this info up front.
PS: My colleage received this information on 22 May, 2004.
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Request for Question Clarification by
vercingatorix-ga
on
03 Jun 2004 09:17 PDT
I've scoured a database containing all publicly traded energy stocks
and come to a conclusion:
I think your friend got some bad data, partly because most of the
companies valued at around $190 million have significantly higher
production, and partly because gas prices are so high that everyone is
selling for a lot more than $4.60 per thousand cubic feet.
I suspect the pricing data is out of date, which casts doubt on the
information regarding production volumes and reserve value.
Perhaps more importantly, as far as I can tell, no publicly traded
U.S. company meets all of the criteria you set out.
However, I found three companies that could be the stock you seek. All
of them meet some of the criteria and not others, depending on how the
data is presented.
I can provide information about those companies, if that would be acceptable.
V
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Clarification of Question by
eusonia-ga
on
04 Jun 2004 11:20 PDT
Yes. The three company names would be acceptable.
Thank you.
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