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Gold/Mining/Energy : Chesapeake Energy CHK
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To: Richard L. Williams who wrote (394)7/17/1998 9:49:00 PM
From: Mark Adams  Read Replies (1) of 726
 
I own some CHK near $6 too. That they were open to merging came as a surprise to me. I planned to hold until oil prices recovered, and have to wonder if a buyer would pay what I feel fair value is.

There was some talk that CHK's cash flow wasn't enough to develop their leaseholds after their recent merger spree. This might be true, but as long as they turn a profit they can hold out for higher oil prices.

I'm in until they break $10 or $0.
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