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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (2691)	1/11/2011 3:25:29 PM
From: Paul Senior	Respond to of 7252

Yes, nice move in that stock. I also added a few shares.

To: richardred who wrote (2691)	10/17/2011 1:25:16 PM
From: richardred	Respond to of 7252

Archived news: Credo small fly interest , but imo notable due to todays Brigham Exploration Co takeover . Credo Petroleum announces highest initial test rate in company history. Credo Petroleum Corp., an oil and gas exploration and production company with significant operations in the Williston Basin, Central Kansas and Oklahoma, today provided an update on its North Dakota Bakken horizontal drilling program. Weisz 11-14#1-H ("Weisz") well successfully completed Credo's second Bakken well has been successfully completed and production tested at high rates. During testing, the Weisz 11-14#1-H ("Weisz") flowed over 2,000 barrels of oil equivalent from 37 fracture-stimulated stages of Middle Bakken perforations during an early 24-hour period. Brigham Exploration is the operator and Credo owns a 6% working interest. In coming weeks, Brigham will announce the well's exact initial flow rate, but Credo has confirmed through internal calculations that the official initial rate will in fact exceed 2,000 barrels of oil equivalent, marking the highest initial test rate of any well in which Credo has participated in the company's 32 year history. The Weisz well is located on a 1,280 acre spacing unit about one mile east of Brigham's Olson 10-15-H well which has produced 126,000 barrels of oil equivalent in 18 months. Based on Brigham's exploration plan for the area, up to three Bakken wells are expected to be drilled on the spacing unit and potentially three additional wells to develop the deeper Sanish/Three Forks formation. Management Comment Marlis E. Smith, Jr., Chief Executive Officer, said, "I am extremely pleased with the test results of the Weisz, and the initial flow rate record it has set for Credo. Since joining the Board in April of 2009, I have been a staunch advocate of the Bakken, and targeted acquisition of this specific Bakken acreage with our technical team soon after becoming CEO earlier this year. This particular spacing unit could one day see up to six horizontal wells, two additional Bakken wells, and three Sanish/Three Forks wells. Along with the Bakken, the Sanish/Three Forks is highly prospective in the area. Smith continued, "We look forward to releasing future Bakken well results, including our previously reported Petro-Hunt 1-H well, which is currently in the final stages of completion, and a well in which Credo owns an 18.75% working interest." epmag.com

To: richardred who wrote (2691)	6/4/2012 11:27:40 AM
From: richardred	Read Replies (1) \| Respond to of 7252

Bullseye today- CRED-Credo Petroleum-First takeout this year.. :+ ) Credo Petroleum gets $146M buyout bid Denver Business Journal by Mark Harden, New Media Editor Date: Monday, June 4, 2012, 8:32am MDT - Last Modified: Monday, June 4, 2012, 8:37am MDT Related: Energy, Mergers and Acquisitions, Oil & gas Forestar plans to acquire all outstanding shares of the Denver-headquartered independent oil and gas company's common stock for $14.50 a share. "We believe this transaction captures the value we have created since we began transitioning Credo from natural gas to oil about four years ago," Credo Chairman James Huffman said in a statement. "Forestar is a larger enterprise with significant oil and gas assets, and it is well positioned to accelerate the transition." Jim DeCosmo, Forestar's president and CEO, said the acquisition "is expected to more than double Forestar's existing oil and gas production and proven reserves, provide Forestar with operating flexibility, and create a solid platform for continued growth." The deal, subject to approval by Credo's shareholders, is expected to close in the second half of this year. Credo (Nasdaq: CRED) operates primarily in North Dakota, Kansas, Nebraska, the Texas Panhandle and Oklahoma. Forestar (NYSE: FOR) is a company with oil and gas, real estate and wood fiber segments and operates 594,000 net acres of oil and gas interests mostly in Texas, Louisiana, Alabama and Georgia. The deal comes a few months after Marlis Smith Jr. stepped down as Credo's CEO after two years in the post, saying he wanted to devote more time to his personal businesses. COO Michael Davis has been serving as acting CEO since Smith's departure; Huffman was the company's CEO for 30 years and co-founded Credo in 1978. In its most recent fiscal year, which ended Oct. 31, Credo reported net income of $3.45 million, or 34 cents a share, on revenue of $16.8 million, versus the previous year's net income of $2.2 million, or 22 cents a share, on revenue of $11.6 million. bizjournals.com