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

To: Spekulatius who wrote (41433)	2/16/2011 11:31:40 AM
From: E_K_S	Respond to of 78525

I thought about covering my covered calls (May 2011 $5.00) but did nothing. Many of the other small E&P companies have been selling off approaching a Buy point (200 day MA) IMO so I have been very selective on any new buys. I picked up some more CPE on the announcement of their secondary offer for 9 million shares at $7.75/share (got fills at $7.68/share). The key is to pick up companies with good reserves, enough capital to complete wells under development and has the potential for JV w/ well capitalized partners. GMXR fits all this criteria and is one of my larger positions in my basket of 12 E&P companies. My largest holding(s) are SSN, MHR and GMXR in that order. I sold covered calls on 25% of the position(s) for both GMXR and MHR to generate some guaranteed income. EKS

To: Spekulatius who wrote (41433)	2/16/2011 2:36:49 PM
From: Madharry	Read Replies (1) \| Respond to of 78525

i rounded up my gmxr to 1% yesterday. being the copy cat in this area i too own mhr ssn and then end and este.

To: Spekulatius who wrote (41433)	2/23/2011 11:34:28 AM
From: Paul Senior	Respond to of 78525

GMXR. Seeking Alpha article from jrhana's thread: "6 Energy Companies With Undervalued Natural Gas Reserves to Consider Today" seekingalpha.com I don't know the exact land holdings GMXR is acquiring or their worth. I see two positives though: 1. Two different areas being bought: Niobrara and Bakken. So some diversity, giving a chance that at least one of the two might prove to be a winner. 2. "$1.8 million in cash and up to 2.7 million shares of stock" for 67.7K net acres. 2.7M x $4.60/sh, plus $1.8M = $14.22M. Which is $2100 per net acre. That's not very expensive considering what some of the alleged prime acres are selling for recently in these two areas. I wasn't alert to get the shares at Spekulatius lows, and I bought at higher prices. I have an order in to buy a few more shares now.