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Mission Resources Corp. (MSSN) Message Board

  • JR4NOTAXES JR4NOTAXES May 10, 2004 9:28 AM Flag

    Time to buy more MSSN?

    It may be! Futures looking down today, but according to First Call Thompson Financial Q2 for the market is seeing upward EPS revisions of about 24% as reported on CNBC. The first quarter estimates have been exceeded and the second quarter is shaping up to see a considerable boost as well. (As seen on the CNBC ticker: Energy companies have seen the biggest upward EPS revisions.)

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    • <<so you're relying on analysts for your investments. BTW, the same analysts downgraded the company a year ago with the same fundamentals, check PQUE's website...I bought it @1.8 sold @3. They have great balance sheet but their management is very conservative in terms of drilling. They got burned last summer with several dry holes.>>

      This is so trivial. A lot of companies went down in 2002 including MSSN, TMR, KCS... In case of TMR and MSSN dry holes caused the problem. In case of PQUE, depletion.
      But PQUE step back and came up with a strategy which began mid last year and resulted so far is 13 successful wells in a row, divesified risk among different fields and lining up partners to reduce the risk. A good acquisition, trippling their reserves, doubling the production and lining up many inventory for future Qs. PQUE numbers are not created by analysts but what they see is what we are seeing. Low debt and good earning is what will Push PQUE up and up.

    • so you're relying on analysts for your investments. BTW, the same analysts downgraded the company a year ago with the same fundamentals, check PQUE's website...I bought it @1.8 sold @3. They have great balance sheet but their management is very conservative in terms of drilling. They got burned last summer with several dry holes.

    • <<Whoa! That means MSSN is a screaming buy in comparison!! PQUE has negative working capital (current assets minus current liabilities) and they're growing revenues at 12.6% clip while growing expenses 17.19% (both over the year ago quarter).>>

      Where did you get these untrue info. Hope not from Yahoo.
      Go to (http://www.petroquest.com) and click on reserach and current report date(5/7/04) to see what 3 analysts say about PQUE.
      PQUE reserves are 3.5X 2003 with 45% growth rate and positive earning. Debt is only $26 MM from recent aquisition. It has $15 credit to use and all operation are paid through cash flow. Its earning is equal to TMR and at least 5 times MSSN.

    • I did the same comparison. The last earnings report for ATPG showed expenses 8.67% higher while total revenues were only 74.87% of the year ago quarter. Even including the $185 million in financing, net tangible assets were less than $0.18 (18 cents) per share; so your currently paying 37.53 TIMES net tangible assets! With MSSN, you're only paying about 1.72 times net tangible assets.

    • Now do the same comparison to ATPG adjusted for the $185 million financing and $19.5 jv.

      ATPG has fully diluted 27 million shares o/s, positive working capital, over $60 million cash, great developable projects and North Sea and GOM production.

    • Whoa! That means MSSN is a screaming buy in comparison!! PQUE has negative working capital (current assets minus current liabilities) and they're growing revenues at 12.6% clip while growing expenses 17.19% (both over the year ago quarter). In contrast, MSSN has POSITIVE working capital, and Lease Operating, General & Administration, and Interest Expenses were only 92.58% of the previous year's 1st quarter expenses; but REVENUES WERE 11.89% HIGHER THAN THE YEAR AGO QUARTER! This means that revenues are growing 19.31% greater than expenses - UNHEARD OF!!!

    • This is what analysts said about PQUE last week from kayvon50 post on PQUE board.

      FBR:
      1-Target price raised to $4.70 (outperform)
      2-shares are traded at 27% discount at $3.40.
      3-increase production (43% 2004), (20% 2005).
      4-Low risk drilling.
      5-Flattening/declining costs

      Johnson Rice:
      1-over weight rating
      2-Production growth of 40-45%
      3-Drilling inventory holds lots of potential
      4-Success showing up in production numbers
      5-300+ Bcfe of net unrisked reserve potential
      6-3.5X 2003 reserve base
      7-Balance sheet in fine shape

      RBC capital
      1-Operation and financials more solid now
      2-Sequentially higher duidance
      3-Strategy appears successful
      4-Current inventory has 335 Bcfe potential
      5-Upgrade to sector perform from underperform

    • I'm a trader. It doesn't matter to me what the stocks' debt is or the religion of the CEO for that matter.

      You say "a sure stock" but every stock is a "sure" stock for me because I buy it when it's going up and sell it when it going down.

      If a stock has a "great outlook", that's all the better. It allows me to trade in and out of as it continues to climb. That's how I maximize my profits.

    • Why buy MSSN which does not have any earning and truck load of debt.
      Don't you want to buy a sure stock with great outlook, very small debt like PQUE?

    • Please show me what was "worthwhile" in your last post.

      Thanks.

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