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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (43494)2/27/2012 7:06:55 PM
From: E_K_S1 Recommendation  Read Replies (1) of 78476
 
Hi Paul -

Still holding your LEI shares?

Is Lucas Energy Copying Chesapeake And About To Make A Bold New Move?
seekingalpha.com
From the article:"...This year it plans to sell its Eagle Ford and some other properties for approximately $95 million. It has 5,144 net acres in the Eagle Ford Shale (and 3.745 net acres in the Eaglebine). This seems like an entirely believable statement, as previously large sales of Eagle Ford oil producing acreage have sold in the range of $15,000 to $20,000 per acre.

The above sale along with other Lucas Energy actions is supposed to generate $106.8 million in cash inflows in 2012. Since Marathon Oil (MRO) is a JV partner with Lucas Oil in the Eagle Ford, it seems likely that MRO will be the company doing the buying. This makes the sale at a good price a virtual certainty. MRO has paid top dollar for large chunks of both the Eagle Ford and the Bakken in the recent past...."

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Stock has traded significant volume over the last several trading days. Today alone it traded 7x's it's average daily volume.

The author believes that their land holdings are undervalued given what MRO has paid in the past. He believes the potential buyer could be MRO.

EKS
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