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To: Paul Senior who wrote (43494)	7/21/2011 6:00:42 PM
From: E_K_S	Read Replies (2) \| Respond to of 78468

Re: Penn Virginia Corp. (PVA) - Undervalued by 44% to perhaps as much as 200%. You should also look at PVA if you like Eagle Ford shale. I want to buy more shares below $13.00/share especially after their recent presentation. PVA stock appears to be quite undervalued according to their presentation on 7/18/2011. Stock selling close to it's 2 year low closing at $13.71. Note their focus on Oil vs NG over the last 24 months. Their most recent Eagle Ford well was very successful – First well IP’d at 1,250 BOE/d. (see presentation Pg -11- & -12- ). – ~14,000 net acres in Gonzales Co., TX – 9 wells currently producing approximately 5,000 BOEPD (gross), including NGLs – First well IP’d at 1,250 BOE/d – Next five wells IP’d at 582-1,876 BOE/d – 997 BOE/d average IP rate • 2011 Activity – 3 rigs drilling; up to 29 (24.3 net) wells – Up to $187MM of CAPEX (52% of total) – 11% of 2011E production (20% of 4Q11E Here is the link of their most recent presentation July 18, 2011 at the GHS conference. Pg -19- is the most important one. It shows a NAV per share stock value range: NAV per Share $19.46 $29.26 $42.18 phx.corporate-ir.net You can access the audio here where he discusses each chart in the presentation above. (Note: You must provide you name & email on the registration page) wsw.com Penn Virginia Corporation Presentation is Monday July 18, 2011 at 11:00AM (This is a direct link that may or may not work: wsw.com ) There are many other presentations there too. ABAX, MHR, RAM EKS

To: Paul Senior who wrote (43494)	10/17/2011 12:49:12 PM
From: E_K_S	Read Replies (1) \| Respond to of 78468

Hi Paul - Apparently Statoil also found significant value in BEXP. The fields produces 20K BOEPD and they expect to increase to 80K BOEPD w/ a $700M investment. Their $4.8B works out to $60K per BOEPD, about average to 14% more (when you add back in their expected investment of $700M) than earlier Buys. The bottom line is the large Cap Buyers are willing to pay a higher premium now as production ramps up in the area(s) where they are investing. Brigham Exploration Company(NasdaqGS: BEXP Statoil Buys Brigham Exploration for $4.4 Billion Cash to Gain Oil Shale Oct 17, 2011 8:38 AM PT bloomberg.com From the article:"...Statoil ASA (STL), Norway’s biggest oil company, agreed to buy Brigham Exploration Co. (BEXP) for about $4.4 billion in cash, expanding in unconventional U.S. assets because of declining North Sea production. Statoil will buy all of Brigham’s shares for $36.50 each, a 20 percent premium to the Oct. 14 closing price, the Stavanger- based company said today in a statement. It would be the seventh-largest takeover announced in the oil and gas industry this year. The premium compares with a 23 percent average this year in the industry, Bloomberg calculations show...." <clip> "...The deal will give Statoil more than 375,000 net acres in the Williston Basin, where the Bakken and Three Forks are located. Brigham also holds interests in 40,000 net acres in other areas. Statoil said the risked resource base is estimated at 300 million to 500 million barrels of oil equivalent equity. Equity production is now at about 21,000 barrels of oil equivalent a day, with potential to increase to 60,000 barrels to 100,000 barrels a day over a five-year period, Statoil said...." -------------------------------------------------------------- EKS

To: Paul Senior who wrote (43494)	2/27/2012 7:06:55 PM
From: E_K_S	1 Recommendation Read Replies (1) \| Respond to of 78468

Hi Paul - Still holding your LEI shares? Is Lucas Energy Copying Chesapeake And About To Make A Bold New Move? seekingalpha.com From the article:"...This year it plans to sell its Eagle Ford and some other properties for approximately $95 million. It has 5,144 net acres in the Eagle Ford Shale (and 3.745 net acres in the Eaglebine). This seems like an entirely believable statement, as previously large sales of Eagle Ford oil producing acreage have sold in the range of $15,000 to $20,000 per acre. The above sale along with other Lucas Energy actions is supposed to generate $106.8 million in cash inflows in 2012. Since Marathon Oil (MRO) is a JV partner with Lucas Oil in the Eagle Ford, it seems likely that MRO will be the company doing the buying. This makes the sale at a good price a virtual certainty. MRO has paid top dollar for large chunks of both the Eagle Ford and the Bakken in the recent past...." ----------------------------------------------------- Stock has traded significant volume over the last several trading days. Today alone it traded 7x's it's average daily volume. The author believes that their land holdings are undervalued given what MRO has paid in the past. He believes the potential buyer could be MRO. EKS