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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: laurin_de who wrote (34928)	11/22/2009 12:18:14 PM
From: FIFO_kid2	Respond to of 37387

RE: Laurin, I finally bought an inital small stake in this pullback yesterday with a small percentage of my GKP.L profits. Without hedges per the conference call the upper $3s/mcf is their break even to ensure a 1:1 interest coverage ratio. Reducing the debt by 100 million will likely lower that figure some. I still think with a revised 22 million shares outstanding you are getting the most leverage of any E&P company in North America of which the company has a high probability will eventually have 1 TCF in reserves. As I said before approximately 70% of production is favorably hedged in 2010 the risk lies past that date but should be dampened some with the improvement of the balance sheet. I think the bigger issue is getting off of the bulletin board and this S-1 move certainly will accomplish it. Kind of OT I also bought into NSU on Friday.