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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Ed Ajootian who wrote (130099)4/6/2010 4:23:35 PM
From: cyesp  Read Replies (2) of 206151
 
Picked up a small opening position on USEG at $6.15 today. The Bakken is their most interesting asset, but they only have exposure to 45 locations (90 if you count the Bakken and Sanish/3Forks separately). While they seem overvalued based on the Bakken alone, backing out their other assets (an apartment complex in Gillette, a molly mine near Crested Butte, and gulf coast O&G) and cash, the Bakken's value looks more attractive.
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