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Started By
Message
Chesapeake and Petrohawk
Posted on 10/6/08 at 9:51 am
Posted on 10/6/08 at 9:51 am
I'm buying some CHK today. It's trading $24.
Petrohawk is trading $13.
6
Posted on 10/6/08 at 9:53 am to Tiger JJ
Was just looking at that myself
Posted on 10/6/08 at 9:57 am to DandyPimp
Some offshore servicing companies/work boats like Tidewater might be a good long term play with them opening up the OCS.
Posted on 10/6/08 at 9:59 am to Tiger JJ
I capitulated on mine yesterday. So this is probably a good time.
Posted on 10/6/08 at 10:39 am to Tiger JJ
Yeah, really tempting to dabble... again
Posted on 10/6/08 at 10:44 am to Colonel Hapablap
I don't know if I'd buy; particularly if you are looking at them because of the Haynesville. They paid big $$ for acreage and with <$7 gas, their rate of return is going to be considerably less than others who were established in the area. I'd look at the companies who had large acreage positions prior to the land grab. CHK did do a good job of hedging with the JV, but they may still be a little risky. I don’t know the economic limit on a Haynesville horizontal, but I bet $5-6 gas is a pretty good number. It may even be higher now because of water issues.
On another note, if Boone Pickens plan goes through and natural gas becomes more important, it could be a gold mine to get into now.
One thing I've been thinking about is elastic goods vs. inelastic goods. The price drop in oil and gas may be a little exaggerated vs the rest of the market. Demand is going to fall, but at what rate??? O&G companies could end up being good buys. The other side is maybe oil and gas prices were over inflated?? Food for thought.
On another note, if Boone Pickens plan goes through and natural gas becomes more important, it could be a gold mine to get into now.
One thing I've been thinking about is elastic goods vs. inelastic goods. The price drop in oil and gas may be a little exaggerated vs the rest of the market. Demand is going to fall, but at what rate??? O&G companies could end up being good buys. The other side is maybe oil and gas prices were over inflated?? Food for thought.
Posted on 10/9/08 at 12:03 pm to chunknasty
Well this turned out to be a great buy! 
Posted on 10/9/08 at 12:14 pm to kfizzle85
quote:
offshore servicing companies/work boats like Tidewater might be a good long term play
A couple of others that could do well if we don't have an economic collapse are PKD and GLBL. Great P/E's now but industries like that can go belly up in an anvironment like this.
Posted on 10/9/08 at 1:50 pm to Tiger JJ
if this selloff keeps up could CHK and HK go bankrupt? Aubrey McClendon bought 30 million worth of stock back in July in the 50's, he's down a lot now. 
Posted on 10/9/08 at 2:02 pm to GeneralLee
NG up 1% and CHK is down 18%... looks like some hedge funds had to liquidate their positions.
Posted on 10/9/08 at 2:06 pm to GeneralLee
Seems like it just has to be mutual and hedge fund liquidations. total rout now. Trading $18!
Posted on 10/9/08 at 2:07 pm to Tiger JJ
don't forget, Lehman liquidation is tomorrow. Who knows what strange correlations that is going to have.
Posted on 10/9/08 at 3:00 pm to Tiger JJ
i just picked up some chk at 17.95 
ETA: I'm gonna regret that tommorow !!
ETA2: Last time i owned this i sold out at 66
ETA: I'm gonna regret that tommorow !!
ETA2: Last time i owned this i sold out at 66
This post was edited on 10/9/08 at 3:12 pm
Posted on 10/9/08 at 8:01 pm to Zilla
HK at $10.64.
If it breaks single digits I'm going to pick up a few hundred shares.
I mean seriously..the HS is still there right? The gas didn't suddenly flush out into the Gulf because the stock market is down right?
Course we were still buying gas for 79 cents in 1999 so who knows. Glad I took the lease bonus while the gettin' was good.
If it breaks single digits I'm going to pick up a few hundred shares.
I mean seriously..the HS is still there right? The gas didn't suddenly flush out into the Gulf because the stock market is down right?
Course we were still buying gas for 79 cents in 1999 so who knows. Glad I took the lease bonus while the gettin' was good.
Posted on 10/10/08 at 10:21 am to CAD703X
CHK down in to the $12 range. Jersey, did you dollar cost average down?
Posted on 10/10/08 at 10:22 am to C
bk ????
Posted on 10/10/08 at 10:49 am to C
quote:
CHK down in to the $12 range. Jersey, did you dollar cost average down?
No, I 50% lossed down.
Posted on 10/10/08 at 10:54 am to Tiger JJ
quote:
No, I 50% lossed down.
Yeah I'm down about that much on two stocks I purchased in the last 2 months. My wife might kill me if this doesn't turn around.
Posted on 10/10/08 at 10:58 am to CAD703X
quote:This is the only funny thing about this whole problem, the greedy people who didn't take the great deal they were offered.
Glad I took the lease bonus while the gettin' was good.
This post was edited on 10/10/08 at 10:59 am
Posted on 10/10/08 at 11:05 am to pittboss33
from CHK's quarterly report, aug. 11th
"To mitigate this risk, we enter into derivative contracts only with investment grade rated counterparties deemed by management to be competent and competitive market makers. Recently there have been concerns about the ability of certain investment banks to continue to meet their financial obligations."
Ouch, not to mention they have 0 cash.
"To mitigate this risk, we enter into derivative contracts only with investment grade rated counterparties deemed by management to be competent and competitive market makers. Recently there have been concerns about the ability of certain investment banks to continue to meet their financial obligations."
Ouch, not to mention they have 0 cash.
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