Retain position — Originally suggested at $11.65 prior to reverse split.

Wunderlich initiates EXXI with a Buy and price target of $25 based on their forecasted calendar 2010 cash flow per share of $5.65 ($5.70/share fiscal 2010) multiplied by their 3.8 times peer group multiple. Firm says Energy XXI has been able to acquire, explore, and develop assets profitably and now has significant, oily production from its core fields. Additionally they say, Energy XXI has a significant position in the Ultra-Deep Shelf play in the Gulf of Mexico that has become more viable with the Davy Jones discovery.

___________

Just another BEST IDEA  — performance to date on entire portfolio — 21.75%. All for $40.00 per year for the BEST  “jellybean” penny stock guide by performance over the last 3 years.  Data on all ideas available  upon requested or viewed from our archives.