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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Dennis Roth who wrote (105287)7/17/2008 8:00:59 PM
From: jrhana   of 206181
 
ESA is a small NG pipeline company centered in West Virginia which is about to emerge from SPAC status.

sec.gov

ESA is combining two companies, CJ Hughes and ST Pipeline and will be achieving cost saving synergies although both companies are already nicely profitable. It is well managed and has very low levels of debt. As mentioned on page 13 of the link above, they have little direct competition at present as quality and reliability are more important than price in the pipeline business.

<"The unmistakable conclusion is that more outbound pipeline capacity
infrastructure and debottlenecking projects are needed sooner rather than
later to be able to move increasing supplies out of the region into higher
demand markets than can absorb the increased gas flow," Braziel said.>

ESA's main limit on the amount of work they do is their supply of skilled labor.

ESA expects to rapidly grow in the fairly near future through the acquisition of small well managed and profitable privately held companies in the same or closely energy infrastructure area.

CEO Marshall Reynolds has spent a lifetime doing just that-Packaging small companies into a profitable cohesive whole and then selling the package at a large multiple.

For anyone unfamiliar with SPACs, Glenn Petersen's thread header is excellent

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