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Strategies & Market Trends : Aardvark Adventures

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From: ~digs	3/25/2008 10:43:36 PM
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HK - Petrohawk Energy shares hit a new high Tuesday, with investors banking on the oil and gas producer's newly promising position in northwestern Louisiana. On Monday, rival Chesapeake Energy said its Haynesville Shale site near Shreveport "could potentially have a larger impact on the company" than any previous project. Jefferies analyst Subash Chandra notes Petrohawk "has substantial acreage" -- about 50,000 acres total -- in the same area. "We estimate the Haynesville is worth $10 per share" to Petrohawk, he adds. Petrohawk shares rose $1.70, or 9.7 percent, to close at $19.31 Tuesday.

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