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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL
CWEI 131.900.0%Apr 25 4:00 PM EDT

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To: David Alan Cook who wrote (1003)8/5/2000 4:35:33 PM
From: David Alan Cook  Read Replies (1) of 1017
CWEI to buy back shares in the open market

News release below:

Clayton Williams Energy Announces Stock Repurchase Program
MIDLAND, Texas, Aug 3, 2000 /PRNewswire via COMTEX/ -- Clayton Williams Energy, Inc. (Nasdaq: CWEI chart, msgs) has announced today that its Board of Directors has approved the expenditure of up to $2,000,000 for the repurchase of shares of the Company's stock in open market transactions through July 18, 2002 at times and prices deemed appropriate by the Company.

Clayton Williams Energy, Inc. is an independent energy company located in Midland, Texas.

Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Such forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: the volatility of oil and gas prices, the Company's drilling results, the Company's ability to replace short-lived reserves, the availability of capital resources, the reliance upon estimates of proved reserves, operating hazards and uninsured risks, competition, government regulation, the ability of the Company to implement its business strategy, and other factors referenced in the Company's public filings with the Securities and Exchange Commission. Source: Clayton Williams Energy, Inc. 

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