Chesapeake Energy CHK Message Board

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Gold/Mining/Energy : Chesapeake Energy CHK

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To: Gabor who wrote (489)	4/17/1999 9:52:00 AM
From: Ed Ajootian	Read Replies (1) of 726

Gabor, Congrats on a great call here. You may want to keep some dry powder for the dip that will likely occur when they announce 1st quarter earnings. Nat. gas prices were lower in 1Q '99 than they were in 4Q '98. There might even be need for one more ceiling writedown. I still like the preferred better than the common on this one. Its convertible into 7.2 shs. common so the premium you're paying for it coming ahead of the common is well worth it. The XNG index has really taken off since February and this is gonna bring a lot institutional money back into the nat. gas stocks. But unless CHK makes some phenomenal discovery in the next month or they do a reverse split I can't see it getting to $5. Do you know if they have any big-potential wells nearing total depth at this point?

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