Berkley Petroleum: Non Junior TV Play Message Board

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Gold/Mining/Energy : Berkley Petroleum: Non Junior TV Play

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To: SofaSpud who wrote (153)	11/18/2000 3:51:35 PM
From: Tommy D	Read Replies (1) of 200

What does the management of the company or the shareholders expect? BKP has not hit their production numbers yet have some very good producing properties and some very very exciting exploration plays, which a potential suitor can pick up for virtually nothing (assuming an offer somewhere in the $10.00 to $10.50 range with an ultimate bump to 11.50 to 12). Unlike others, I don't blame the mgt for the hedging program as I think it facilitated the exploration program (with the Bankers)but the market clearly hasn't liked it. You have an oil and gas stock that is down 40 to 40% on the year with most others having doubled so big pressure starts to build and BKP valuation starts to look attractive to other O&G companies, particularly given the preliminary results on BKP #2 at ELH. It will be a shame if it happens and not good for the shareholders in the long term but very probable in my opinion. TommyD

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