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

To: Paul Senior who wrote (41646)	3/7/2011 2:20:46 PM
From: E_K_S	Read Replies (1) \| Respond to of 78751

Callon Petroleum Co. (CPE) is one that is trading down today (off 6%). They did a secondary at $7.75/share last month that increased outstanding shares by 30%. Company has operating offshore wells in the Gulf (may have impact from drilling moratorium?) and recently have working their interest in onshore well development. I like the company since they generate income from their offshore wells which finances their onshore E&P operations. They announce earnings tomorrow. The street expects break even. Their reserves are 60% oil, 40% NG. They have been paying down debt (down 50% from last year) selling non core properties. Here is there most recent presentation February 22, 2011: vcall.com I have two different buys in January 2011 and February 2011 at an average cost of $7.35/share. I hold this based on their long term value prospects w/ their proven reserves. Stock ready to break out and my longer term target based on 2006/2007 price is $14.50/share. 2011 CapX is going to be increased to finance 44 wells (vs 22 announced earlier). Proceeds from their secondary will be used to pay down debt and pay for 2011 & 2012 E&P well development. Didn't know if you had an opinion on this one? finance.yahoo.com EKS

To: Paul Senior who wrote (41646)	3/7/2011 2:22:17 PM
From: rllee	Read Replies (1) \| Respond to of 78751

VOG - Interesting play. Just got listed on the AMEX from OTC-BB and completed a private placement at $4 + warrants. Any idea what is the percentage of Oil vs. Gas in its current inventory and exploration?

To: Paul Senior who wrote (41646)	3/7/2011 2:22:18 PM
From: rllee	Respond to of 78751

VOG - Interesting play. Just got listed on the AMEX from OTC-BB and completed a private placement at $4 + warrants. Any idea what is the percentage of Oil vs. Gas in its current inventory and exploration?

To: Paul Senior who wrote (41646)	3/18/2011 2:47:28 PM
From: E_K_S	Read Replies (2) \| Respond to of 78751

Re: Voyager Oil & Gas, Inc. Common (VOG) Started a tracking position in VOG. Very good prospects in the Niobrara area. 22 wells planned for 2011 at $3.1 million per well. Voyager Finds Success With Niobrara Drilling Voyager Oil & Gas -Monday, November 15, 2010 rigzone.com From the article:"...Voyager currently controls a 50% interest in 44,000 net acres in the D-J Basin Niobrara play in a joint venture with Slawson Exploration. Voyager recently participated with Slawson Exploration in three previously announced Niobrara test wells in Weld County, Colorado. Two of the wells, Moonshine #1-36H and Outlaw #16-11-66H experienced significant hydrocarbon shows during drilling and have delineated an additional 22 high-grade locations to be drilled in 2011...." ------------------------------------------------------------------- Re: Samson Oil & Gas Limited (SSN) - A small add to SSN betting that their 14,000 Niobrara acres will be developed sooner than later. I am looking to a prime JV partner. -------------------------------------------------------------------- Peeled off shares from ConocoPhillips (COP) with 1/2 deployed in VOG & SSN and the other 1/2 to be invested in the 8% MHR Preferred D offering next week. Looking out 2-3 years, I am betting that the capital gain growth will be better in the small E&P companies (w/ "oily" Niobrara wells) combined with the 8% MHRpD preferred than holding the COP at $76.00/share yielding 3.5%. Finally, I expect that the recent No-Fly-Zone in Libya will result in weekend attacks using NATO cruse missiles that will disrupt the World Oil markets. I am expecting a flight to domestic producers that have quality "oily" reserves. EKS

To: Paul Senior who wrote (41646)	4/7/2011 3:01:06 PM
From: E_K_S	Read Replies (1) \| Respond to of 78751

Re: Voyager Oil & Gas, Inc. (VOG) Doubled up my earlier buys in VOG. Company has 47K Niobrara acreage where they recently completed three test wells. One was a dud but two others show promising results. Go here for the results of their test wells: blackberrystocks.blogspot.com VOG is partnered with Slawson Exploration a privately held company. Slawson Exploration appears to be legit and has done operating deals with GeoResources (GEOI)( shale.typepad.com. ) in the Montana Bakken area. From the VOG Web Site : DJ Basin Niobrara Voyager announced the 48,000 net acre Niobrara development program with Slawson Exploration on June 28, 2010. Voyager is participating on a heads-up basis for a 50% working interest in Slawson's 48,000 acre position. Since that announcement, Slawson has commenced drilling operations on the Bushwacker 24-11-67 well targeting the Niobrara formation. The Bushwacker is the first in a series of three test wells planned for 2010 and the first of 60 wells planned through 2011. ------------------------------------------------------------------------ Your call on DBLE was a good one at $9.05/share. It is moving today up $1.68/share on 4x normal volume. Stock up almost 20%. Somebody believes there is value there. I hedged 50% of my recent buy selling the October $10 Calls. Sold them too early and at too much of a discount. EKS