Chesapeake Energy CHK Message Board

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Gold/Mining/Energy : Chesapeake Energy CHK

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To: Gutterball who wrote (235)	8/29/1997 10:19:00 AM
From: Gutterball	of 726

From looking at this report, it appears CHK is under valued. If CHK sells Bayard for $100 million, add that to cash ($100 + $300 = $400 million) then add reserves $400+ million. It has roughly $800 million excluding any hits on those 27 wells it is now drilling. Divide $800-million by 70-million shares outstanding and you get about $11.50/shr. Anythng below $8 looks cheap to me. CHK announced they were putting a stock repurchase plan together several months ago. Yesterday they announced it was in place. There were several block trades (100,000 shr size) earlier this month (8/4/97) when price dipped below $7/shr. I'm wondering if this was their repurchase plan kicking in. I'm just shooting from the hip, no expert and all that, but may be this will help when picking prices. FWIW, I'm riding NXTL today, looking to buy RMTR below $8 with a short term target of $10. I'd be a buyer of CHK at $7.

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