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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (43330)	7/14/2011 9:37:52 PM
From: E_K_S	Read Replies (1) of 78652

BHP Billiton swoops on U.S. gas firm Petrohawk for $12.1 bln reuters.com Mining and oil company BHP Billiton unveiled a $12.1 billion agreed takeover of U.S. gas producer Petrohawk Energy Corp on Friday, marking the Anglo-Australian firm's biggest step into the booming shale-gas industry. The all-cash deal is pitched at $38.75 per Petrohawk share, a 65 percent premium to its last-traded price, and follows BHP's $4.75 billion purchase of Chesapeake Energy's interest in an Arkansas shale gas field in February. ---------------------------------------------------------------------------------------------------------------------------- Petrohawk Energy Corporation Co (NYSE: HK ) is a big player where EOG & LEI operate in the Eagle Ford Shale (specifically the Little Tom Field). This is a document I posted analyzing the Little Tom Field prospects (this came up when researching LEI - siliconinvestor.com eagleford.com If you search the PDF document for "Petrohawk" you can find several of their leases are contiguous or near LEI's and EOG's. From the document: "...Little Tom Field is also located in the middle of the Petrohawk Energy 87,000-acre Redhawk Eagle Ford lease block (average cost $200/acre) with a reported 350 bopd discovery at Mustang Ranch...." I guess BHP found enough value in these leases that Petrohawk hold to offer a 65% premium for their company "all cash". This should bode well for BOTH EOG and LEI. Too bad we missed buying Petrohawk Energy. EKS

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