The *NEW* Frank Coluccio Technology Forum Message Board

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Technology Stocks : The *NEW* Frank Coluccio Technology Forum

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To: Frank A. Coluccio who wrote (38949)	7/2/2011 7:35:11 PM
From: axial	of 46821

'John E. Olson, an energy market analyst at Houston Energy Partners, says he believes shale companies have been aggressively booking their reserve estimates and playing down costs to make themselves appear more profitable. Mr. Olson, who is famous for having been fired from Merrill Lynch in 1998 for refusing to recommend Enron stocks, compared the accounting practices of shale gas companies and the hype surrounding the industry to what he saw at Enron. Of the S.E.C. rule change, Mr. Olson said: “Welcome back to Alice in Wonderland.”' S.E.C. Shift Leads to Worries of Overestimation of Reserves More: nytimes.com [Yet another case where relaxation (or absence) of regulation can have disastrous consequences] Jim

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