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cl001

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cl001

Re: kipp440 post# 2624

Wednesday, 05/07/2008 1:17:59 PM

Wednesday, May 07, 2008 1:17:59 PM

Post# of 17741
TXCO or PXX, help me here.
I have been studying since last night, still can't make up my mind.
This is last quarter PXX report
http://www.pearleandp.com/i/pdf/2007Q5.pdf
The result is similar to TXCO in Q1. Though PXX produced 9000+BOED while TXCO was only 1676! Probably because PXX is heavy oil and TXCO is light sweet. PXX wells are in Canada while TXCO is in Texas.
From the balance sheet, PXX is much better after the sale of the assets. I talked to TXCO today, they believe their cashflow this year + current credit facility, should cover this year's capex.
I really like their oil sand JV. They are getting WTI-15 for it, that's a great price.
The problem for me is TXCO is much easier to buy. I am running out of funds on my IB accounts.

Buy cheap, undiscovered stocks!

Disclosure: I usually own the stocks I post the most. The more I discuss, the more shares I own. Do you own DD before placing the trades.
Please post stock symbols first in all your posts.

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