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Gold/Mining/Energy : MHRC on the OTC market
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From: JakeStraw8/23/2011 7:53:06 AM
   of 188
 
Magnum Hunter Resources ( MHR) had a 52 week high of $8.66/share. It currently sells for $4.04. It has a forward PE of 13.81. Analyst estimates have Magnum growing 1450% next year. It has operations in three very good plays:
  1. Williston Basin 80623 net acres
  2. Appalachian Basin 369238 net acres (58048 net acres in Marcellus)
  3. Eagle Ford 24872 net acres
Magnum Hunter's acreage in the Marcellus and Eagle Ford is impressive. It is not just a play on the Bakken/Three Forks. Of the 80,623 net acres in the Williston Basin, not all are in the United States. This is important as well results differ in Canada as IP rates and EURs diminish. Its acreage breaks down into four areas:

  1. Canada 38,700 net acres with 72% avg. working interest
  2. Divide County 24,500 net acres with 10% avg. WI
  3. W. Burke County 11,700 net acres with 30% avg. WI
  4. E. Burke, Renville, Bottineau Counties 6450 net acres with 50% avg. WI
Magnum has a possible 486 net locations in the Williston Basin. It has unrisked net resource potential of 114 MMBoe.

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