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Technology Stocks : Blank Check IPOs (SPACS)
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To: jrhana who wrote (1867)8/10/2008 12:40:31 PM
From: jrhana  Read Replies (1) of 3862
 
This is quite relevant to ESA

<These asset sales would improve the company's balance sheet and help fund aggressive development in new areas such as the Haynesville and Marcellus shales. Additionally these sales would accelerate the present value and provide a market valuation to them. With such a substantial inventory, much of this acreage was unlikely to be developed for a number of years, and transactions such as the Plains Exploration and Production (PXP) and BP (BP) deals, not only give the company cash up front, but a partner to help accelerate development and share the risk.

Chesapeake continues to be positive on the Marcellus Shale. The company completed two horizontal wells in West Virginia that are currently producing 7 MMcfed combined and together have gross reserves of about 11 Bcfe. Chesapeake has about 1.6 million net acres in the play, and is likely to pursue a Plains-type deal for 25% of its acreage and is also pursuing a similar deal for its 550,000 net core acres in the Fayetteville Shale. While the Barnett and Fayetteville are the current drivers of the company's growth, the Haynesville and Marcellus should begin to drive growth in 2009 and beyond.>

siliconinvestor.com

Guess what profitable little company almost out of SPAC land is going to provide a lot of the necessary infrastructure to get all that NG out of Appalachia (ie the Marcellus Shale)?

It's all right here:

sec.gov
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