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Strategies & Market Trends : The Ego Forum

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From: JimisJim	3/31/2013 4:03:43 PM
	1 Recommendation of 12175

Coastal is back in play >>>posted by gargamel at iV<<< I haven't posted on here in a long while because my position hasn't warranted it. That changed this week. Being in the brokerage business for many years I've seen it all but this week was one of the most blatantly obvious tree shakes against Mr. Retailer that I have seen in some time. My condolences to those who got tossed but me and my boys were loading up. Not the first time we have seen Coastal take a beating before good news - and good news it was. The implications are not understood yet but I have been waiting for years to see if they can unlock that deeper eocene and this release was the one I have been waiting for. Anything under $20 is a gift from here. They will be at 30,000+ bopd before you know it and will close off the year at 200MB+. Still lots of low hanging fruit with BBN exploration/development (115MB in possible recoverable) and the terrace (140MB possible recoverable) and some fabulous new prospects to be drilled in the very near future. In the last 6 months a lot more than Pertamina have been circling Coastal like ravens trying to scoop it up on the cheap. I thank this management company for not giving it away. The eocene just changed the game and those ravens will be swarming now. This well was not drilled to be fracked. Wait until they implement a proper program to really unlock this flood of mud. Go and look at the presentations and analyst reports to better understand the ultimate size of the eocene - it is the elephant that has just stomped into the room. Thanks to belt et al for keeping Joe Retailer informed. We need it as this one remains a favourite of the institutions to play with and shake that big oak tree. To quote Credit Suisse with their $33 Target Price in their flash from Thursday - "Take advantage of this weakness and fill your boots." I did and will buy more under $20 if allowed. I now wait for the end game. $30+ ----------------- As posted here, I picked up trading shares in low 17s last Monday. Trading shares plus remnants of original core position roughly equal full position in CEN with exit strategy at $28+ (will start selling traders around $24+ and be completely out by $30, including remnants of original core shares. It's been a game changing ride for me these past couple of years. Best I've ever done (except maybe AAPL from 1997-2010) in terms of both swing trading blocks alongside LT holdings -- in this case only a couple of years holding CEN vs. 13 for AAPL that I bought at split adjusted $3.51/share (I left a couple hundred or so bucks per share on the table when I finally liquidated AAPL, but it paid for 4 years of college for the iDaughter). Best, Jim

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