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.

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Comstock Resources Inc

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Post by doscoon Aug 22, 2011 4:09am

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Post# 18965712

CRK should have market cap 800 million

silly your approach with 120 million...
this might be true @gold 1100 as they burn at the end money at these level.

value: again and even more simplified:

-   100k+x ounces in 2012 (2011 around 80k)
-   cash cost in 2012 around 1000usd (plus diesel comes down recently)
-   gold 1880 USD

=> 88 million in 2012 !!!

how can you come to a market value of 120 for 80 million a year firm ?

crk is growing so expect 20-30% a year.
this would mean a multiplier to the profit of around 10-20 (at least)

+replacement of infrastrucre alone is 200 million and as there is profit this counts something.
+cash in the account around 80 million.

how do you explain this stipd 120 million?

a fair value would be at least 800 million

each 50 dollar in gold should add at least 50 million market cap ...