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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (72136)	9/28/2006 10:59:17 AM
From: Tommaso	Read Replies (2) \| Respond to of 206085

>>>CHK has no need to produce oil for the low priced spot market. They only have to provide oil to cover the hedges while they wait to hedge again further out. Brilliant!<< I own CHK and I am glad to be owning something that is doing so well managing its business. But I really prefer to own unhedged producers--or else NOT own them--myself. Hedging always looks either stupid or brilliant, depending on which side of the hedge you are on. If there had not been the warmest winter on record and if there had not been a total bust (so far) of hurricane season predictions, CHK management might look stupid. But shutting in some production is smart; I wish they would shut down more. If you have a good chance of doubling or tripling what you get paid, you can wait several years to sell it.