talking to jc., page-37

Sushi

I don't get a feeling of being dispised by management in the O&G sector ..... but rather as just a source of retail finance. I note that many traders treat companies in a similar way ..... jumping like flies from one smelly carcus to another. I'm here to make money and must therefore (somewhat) accept rather than judge this sort of behaviour (although I have admittedly been a tad emotional on the XST tread of latey).

I have an interest here simply because the stock is undervaled in my humple and uninformed opinion.

From the Petrohawk ann. I note that the AZZ acreage is tiny in comparison to the overall play for HK. Therefore the JV wells may have to wait their turn or be drilled early for the purpose of refining cost effective extraction approaches. This is the downside. The upside is that HK is getting good results to date and the JV wells are part of a larger play that is being exploited rapidly by the operator. Clearly the play has a high dollar worth.... just can't say what it is.

I'm back to the money and/or the box analogy I'm afraid with no precice idea about what the box may contain.

cheers