OGW didnt mention anything that has occured in the whole US gas and Oil industry....in fact he didnt clue into the fact that reratings equal downgrades when futures tank. He just had a few guesses and to this point MAE has proved them all wrong. The gas price rerating US across was the one thing he should have emphasised for all the comomodity co's he was covering and especially us knowing it was a current risk and we had an IRR. He didnt even see IRRs as a risk in this environment, nor did he foresee the predictability of reratings in such an economy. That should have been a hearty section as it was definite, current and predictable to someone with training. But then he would have also mentioned that everyone would be in the same storm and some would end up with no inventories and other higher wuality reserves are the only ones that survive. And everyone knew sparse money MAY become an issue, but it hasnt yet and we dont pay GS til we are sold i imagine.
Sorry, no credit to OGW.
Cheers, L
MAE Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
