Shale Natural Gas, Oil and NGLs and ESA Message Board

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Gold/Mining/Energy : Shale Natural Gas, Oil and NGLs and ESA

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To: jrhana who wrote (148)	12/29/2008 2:22:57 PM
From: jrhana	of 6160

First remember that ESA only existed as an ex-SPAC, fully SEC approved listed company for 6 weeks from 8/15/8 until 10/1/8. So the annual earnings are basically pro forma. The first column represents the meagre 6 weeks of existence and in this 6 weeks they realized $28.5 million in contract revenue. That would come out to 247 million annually. (Perhaps this figure is amplified because it might represent the best time of year for ESA.) The other columns are somewhat confusing because their auditors started on 1/18 so the first quarter of 2008 (10/1/7 thru 12/30/7) is unaudited. But the sum total for all the quarters pro forma and regular and mostly audited (the last column) comes down to the $1.03 in earnings per share fully diluted and $1.24 basic. Also of note is the 208 million in contract revenue for fiscal year 2008.

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