cheap one here folks

too cheap at 74c with gas prices in US at $11mmcf. Although 75% of production is hedged for the second quarter, the added revenue from the unhedged production will add several $$ to profit. Other than higher depreciation charges for the year, not too many surpirses expected in 2008 from write-offs.

China oil development will be a big catalyst, as will any success in GoM drilling/production.

Take-over target, not too sure but a decent profolio of permits and good recent track record of finding hydrocarbons...

All the best...