petrohawk, page-6

At 29c it was over sold , no doubt in my mind. There are still a lot of big ?? as to the viability of the Eagleford window they have. There latest flow was much better, and to me indicates you have either inconsistent acerage or hopefully inconsistent operators.

Cash shortage is the major problem imo, but i think the dreaded CR or SPP can overcome that problem. At these prices its a more realistic option for someone to take up a discounted CR.

Its imo still a gamble. You will get rewarded or punished for the risk available. So sorry but its your call. Im not in as im locked into a CGT problem elsewhere.

I dont personally dont like any management that aims to get bought out. To me that shows a managment with the wrong attitude imo. One that doesnt have enough vision to make repeated strategic decisions to drive current and future growth. To me thats a big warning bell. To others it spells excitment of a TO premium. I gues if you are calling them, then the most important question is whats thier growth strategy post any acerage sale. If they are genuine they would presumably have new acerage options lined up for early stage development deals in a lower priced play.

Instead of looking to sell they should be looking to drive value with the assets they have or the assets they can acquire and the resources they have available, thats how you attract a buyer, and thats how you attain max value for existing shareholders.

Ive said it since the start that i feel this managment is a little misguided imo. My driving force was the remuniration they are on relative to the position of the company. Any managment willing to rob the petty cash tin with huge remuneration while in this precarious stage is of concern.

Thats my 2c. Plenty will not agree, for fear of agreement knocking the sp down. But thats the reality i see imo. Having said that i think the sp is approaching a bottom, until further developments drive it up or down.