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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: KyrosL who wrote (91246)	10/4/2007 10:05:23 AM
From: KyrosL	Read Replies (2) of 206334

Started buying back ENT this morning. Got some at an average in the low $2.40s. My current view on ENT: messages.finance.yahoo.com Everything you say is true. But, there are still millions of shares held by shell shocked income investors that bought them at much higher prices. Some (most?) will keep selling as long as the dividend resumption day remains uncertain. Second, there are millions more bought by traders below $2. They don't care about fundamentals, so any technical weakness triggers selling pressure from them. I think this is great for value investors that have studied ENT and feel confident in its fundamentals. It is extremely difficult to find oil and gas assets at 50% off in today's environment of a rapidly depreciating dollar and rapidly appreciating commodities. After the borrowing base review announcement, most of my doubts about ENT have disappeared. Given that the credit markets in Canada have been greatly affected by the subprime mess (the freeze in their commercial paper market is even worse than the US), one can even allow that the ENT squeeze was not even management's fault. So, I will be trying to buy more ENT here in the $2.50's or hopefully below in the next few days.

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