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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (44529)	12/27/2011 2:12:44 PM
From: E_K_S	Read Replies (4) of 78744

Magnum Hunter Resources Corp. (MHR) Peeled off 13% of my MHR shares (representing 70% of my highest cost shares) for a small gain. The company told the market that their 2012 production estimates were too low and raised them by 15%. Stock up 18% on the news. Great opportunity to take my profits on shares bought in August 2011 and lower my overall cost basis by selling out my high priced shares. Oil at $101.46 per barrel and time to peel off a few shares of the E&P inventory (learning from the run up last year). On prices above $105 and $110 per barrel, I plan to peel off a few more shares from the basket. My top tier E&P companies (in my basket) are moving a bit higher; DEJ, SSN, RAM, & LEI. All continue to have good value in them based on land owned, debt profiles and BOEP flowing and expected in 2012. My E&P basket finally turned positive based on my initial acquisitions started in 10/2010. It's been underwater for the last 6-8 months even as oil has turned higher. EKS

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