To: Sergio H who wrote (29271 ) 12/2/2002 5:36:45 AM From: Ditchdigger Read Replies (1) | Respond to I guess we'll have to split the sosa credit between both you and Ken..;^)..Will have to snap some pictures for you flatlanders<vbg>...I'm thinking today might be a "gap and crap" day, but we will see...Looks like it is going to be to cold to work today, (currently 12 degrees), so maybe I'll be able to listen to sosa's CC..Although, I don't think I'll repurchase the stock quite yet...I am looking at ng plays though,,as always, starting first with CHK. They appear to be properly hedged for the current q, but have around 70% of their 1st Q 03 gas production already hedged, that may be a bit higher than I would like."The company has now hedged 22 bcf (approximately 50%) of its estimated fourth quarter 2002 gas production and 31 bcf (approximately 72%) of its estimated first quarter 2003 gas production at average NYMEX prices of $4.47 and $4.12 per mmbtu, respectively. In addition, Chesapeake has hedged 100% of its estimated fourth quarter 2002 oil production and 100% of its estimated full year 2003 oil production at average NYMEX prices of $25.00 and $27.80 per bo, respectively. Based on the company's belief that North American gas production will continue its multi-year decline in 2003, Chesapeake anticipates that gas prices are likely to increase further during the final three quarters of 2003. Accordingly, the company's gas production remains unhedged for that period at this time."
