Further to my request for a forum which can throw up various ideas and stocks which qualify for a second look I have been looking at Contango Oil and Gas. (MCF). It has all the hallmarks of a stock which I like. I would really appreciate anyone's input on this one.

Dipped my toe in @ $39.32. I will wait till I can get a response from you guys and then maybe pick up a few more if the feedback is possitive. Of course whatever the merits of the company it will mainly depend on the future prices for oil and gas. The

PE = 5.91 (although this is based on last year)

Only 16.5 Mill shares outstanding

Very low overheads (few employees)

Possibly the lowest Cost of Production in the Industry.

Management Hold 23% of shares

Repurchased 186,954 shares at $53.48 recently (Got to be a good sign)

No Debt (Very Important)

Roling Finance in place

CAPEX under control

Approx $79/sh. reserves (After Tax and discounted @ 10%)

Look forward to your responses and thanks in advance.

Have a good weekend all

Den