Energy Prospectus

Getting caught up on my reading.

From one of my "Scout Reports": FieldPoint Petroleum reported that the Cimarex (XEC) operated East Lusk Federal 15-3 well in Lea County, NM IP'd at 789 BOPD and then went on to flow 701 boepd (86% crude oil). The well TD's around 9,500 ft. in the Bone Springs with a 4,000 to 5,000 ft lateral. This is the third well drilled on the jointly owned lease and XEC has permitted a 4th location.

Read This: http://finance.yahoo.com/news/fieldpoin ... 00150.html

Cimarex Energy Co. (XEC): An updated Net Income & Cash Flow Forecast model has been posted under the Sweet 16 Tab.

I have increased my Fair Value Estimate for XEC $20 to $125/share.

"Time flies when you are having fun": It had been more than two months since I took a hard look at XEC. I now believe the company is going to report production growth at or above the high end of their guidance. More important: I believe their oil production may exceed what I have in my forecast model, which will result in an even higher valuation. XEC is getting very good results from their Permian Basin drilling program.