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

To: Logain Ablar who wrote (103940)	6/28/2008 6:40:33 AM
From: Ed Ajootian	Read Replies (3) \| Respond to of 206093

Tim, Endeavour International (END) -- Given that the large bulk of the volume occurred at one time, in the last few minutes of trading, followed by another 2.3 M shares trading in the after-market (on a Friday), with no news, this is a clue that some shareholder that held a very large position got taken out. The largest shareholder of END is a group of funds managed by Stealhead Partners, and they owned about 13 M shares as of the latest SEC filing. So maybe it was they who blew out most of their position. If so we should be finding out pretty soon from the SEC filings. Still very positive about END, given their busy drilling schedule in the second half of this year, plus the high commodity prices. After hedges, they got about US$12 for their gas in 1Q, will get about $11 in 2Q, and should get closer to $13 in 3Q.