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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (25605)12/28/2006 5:54:08 AM
From: Madharry   of 78702
 
re chk I went through their latest presentation and I decided I no longer care so much about the reserve issue. Whether its costing them $2.50 or $3.00 to find the gas its still highly profitable at the margins if they are selling it for $7.50+, and I agree with them that more likely than not the price of natural gas is more likely up than down over the next decade so im happy to invest in a company that strives to increase their reserves.
perhaps the difference in cash flow that you are finding its that that they are making more expenditures to lock up non conventional acerage which I speculate takes longer to bring to a proved reserve category. Bottom line if you believe the peak oil theory at some point $10 gas will be the norm and this company should be thriving.
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