Comstock Resources Inc T.CRK.DB

Primary Symbol: CRK

Energy Oil & Gas E&P

Comstock Resources, Inc. is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates through the exploration and production of North American oil and natural gas segment. The Company primarily operates in the Haynesville shale, a natural gas basin located in North Louisiana and East Texas, with economic and geographical proximity to the Gulf Coast markets. The Company is focused on the development of drilling opportunities in the Haynesville and Bossier shales and exploration activities in Western Haynesville play. The Company has approximately 2,959 drilling locations on its Haynesville/Bossier shale acreage, where the Company estimates to have 4.9 trillion cubic feet equivalent (TCFE) of reserve potential. The Company owns interests in approximately 2,478 producing oil and natural gas wells (1,516.7 net) and operates 1,703 of these wells.

NYSE:CRK - Post by User

Comstock Resources Inc

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Post by twonxanityon May 18, 2010 11:29am

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Post# 17109363

Q1 was actually pretty good

It wasnt amazing and it is dissapointing that they missed projections, but we need to keep in mind a few things.

1) It looks like the held back 8000 ounces of gold or so for sale this quarter. I am not sure if they costed them last quater though, does anyone know?

2) Earnings were only a 1 cent loss considering cash costs were $700 per ounce and the crusher was down for over 2 weeks.

3) Commercial production is coming June 1 and costs will be reduced.

All in all I think CRK will be profitable in Q2, if onyl stock was getting beaten so badly for IMO no reason.

Does anyone have any more pros or cons to add.

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