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

To: upanddown who wrote (99867)	4/27/2008 1:49:58 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 206131

JohnT, I believe it takes longer than 2 months for the publicly held companies to ramp up drilling. They need to get board approval, etc. The smaller privately held companies are in position to ramp up drilling more quickly, but since many of those are "checkbook drillers" (i.e. they can only drill if they have money in their checkbook to pay for the rig), they need to wait to collect their huge production checks from this $9+ gas before they can put that money back in the ground. It will be interesting to see to what degree the publicly held E&P's will be announcing increases to their '08 cap ex budgets when they announce their 1Q earnings in the next few weeks. Of the ones that have announced so far, have folks seen many big cap ex increases announced?