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Strategies & Market Trends : Pluvia's Fist.com - Pluvia's Plays & Portfolio

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To: rrufff who wrote (1717)	3/26/2006 4:28:02 PM
From: RockyBalboa	Read Replies (1) of 1766

Many of the oil and gas companies now sport sky high market caps. As such Ultra looks even fairly valued. Of course is the stock price a function of the gas price where one has to wonder whether the 2005 average sale price can be realised again ($6.84). It would perhaps take another katrina (when Natgas would consistently traded at $12+ in the aftermath) or an ongoing high demand situation, perhaps an acute crude shortage to lift the 2006 average to that level. But its metrics related to reserve replacement particularly in Natgas showing what underlying value sits in UPL makes it an interesting aquisition target. Look a Chesapake (CHK) and see how effective hedging can be. They sold their production for $9.43 in 2006...apply that to other producers and their revenue generation can be quickly calculated. biz.yahoo.com

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