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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (32947)	12/6/2008 3:11:24 PM
From: Madharry	Read Replies (1) of 78653

you may want to read the transcript of the latest chk conference call. The CEO despite losing all those shares because of margin calls seems very sharp to me. he does not believe that $5 gas is sustainable for any length of time as its just not economical for most players to produce. rather they will shut down production and idle rigs. in the latest conference call he believed that the company stock was worth $100 at $8 NG price and $30 at $5 ng price. I guess its difficult not to be on margin when you believe your company is so underpriced. he also projects $10 cash flow for 2009. I have rarely seen such a spread between what the company is doing and the share price. last time i checked longleaf owned over 6% of the shares for whatever thats worth.

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