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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

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To: laurin_de who wrote (34863)	11/12/2009 12:04:48 PM
From: Joe Dancy	Read Replies (2) of 37387

Good point Laurin on CXPO, thanks. If you look at the longer term you will see that the stock has been much higher than current price. The lack of liquidity during the banking crisis killed this one from a price standpoint, along with the collapse of natural gas prices. With a market cap of $50 million they have 12,000 acres in the Southern Haynesville, leases going for roughly $5,000 an acre. Proved reserves are significant per share after debt, they have quite a bit of production outside the Haynesville. The Kardell well convinced Devon to put 5 rigs to work full time in the southern Haynesville for the next two years, quite a drilling program at $5 to $10 million per well!

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