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

To: E_K_S who wrote (41509)	2/24/2011 12:51:11 AM
From: debrahaugen	Respond to of 78546

Please be aware that ceo Gary Evans spoke at the Enercom conference earlier today and stated that MHR would NOT issue equity in 2011. He also stated that the two acquisitions in progress (NULCF/NGAS), were the capital raising MHR would do for 2011. MHR common shares were being issued for assets with limited debt attached, thus improving MHR's capital structure. He further stated that plans were to call the $100 million of MHR Series C preferred shares at year end and issue a $150 million MHR Series D preferred issue of shares. Details to be announced in the near future. Seems like a very smart move which should allow MHR to issue a preferred stock with a lower cost of capital based on a year end improved balance sheet, income statement and borrowing base. Especially if, as he stated, MHR's production would increase to 10,000 barrel of oil equivalents per day. DEB