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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Dennis Roth who wrote (178592)	5/20/2013 2:05:01 PM
From: Jim P.	Read Replies (2) of 206105

Dennis, Thanks for all the postings on the Permian. I have been following this area for a few years and had not realized how public the success has become. When Pioneer energy first started touting the play I think a lot of players thought there was too much hot air in PXD projections. PXD recently made a move to purchase the remaining shares of PSE. PSE is a Pioneer MLP and only has interest in the Permian with a large amount of acreage "40,000 +" deep rights that have not been drilled. PXD is showing a lot of confidence to purchase the rest of PSE. Increases share count at PXD by almost 3 million to purchase and creates an immediate tax liability for the PXD recognizing all the past sheltered distributions as income. Also PXD is about $23,000 per acre for the company. Almost all is producing but so is PXD's acreage. Pipelines, suppliers, drillers, housing etc will do very well. jim

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