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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (25599)	12/23/2006 8:52:44 PM
From: Madharry	Read Replies (1) \| Respond to of 78670

Im trying to understand your thinking. Bear in mind that I know very little about the oil and gas industry however after looking at the transcript of the latest conference call, management indicated that the 9/30/06 number for gas of $4.10 was unusually low and that was the number that impacted all the reserve calculations. how did that number affect your analysis? I spent about 20 minutes going through the 10/26/06 transcript of the call and continue to be impressed with the company. They are 74% hedged through Q1 07 at over $10 so they will make good money that quarter either way, whether its costing them $2.50 or $3.50. While I was not pleased about the current equity offering I will live with it.