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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (43363)	7/20/2011 1:18:54 PM
From: Paul Senior	Read Replies (4) of 78464

It looks like e&p LEI has land in Eagle Ford that may be worth more than LEI's enterprise value. Which is often a very risky presumption of course when valuations are made on presumed comparables. "...The company has been meeting with investment banking groups to discuss various possible future plans concerning its 4,400 net Eagle Ford acres. With a correlative value of $95 million, based on the Marathon Oil acquisition of the Hilcorp Eagle Ford acreage in June 2011, (about $4.20 per share fully diluted), Lucas is considering the different alternatives, including but not limited to converting the position to cash and focusing on the development of the Austin Chalk reserves." finance.yahoo.com Stock now at $2.90/sh with enterprise value (per Yahoo) of $49.3M. I have my small position in LEI, and I'll up it a bit more now.

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