is the bottom in?, page-13

Bikenut I am not a holder, just keeping an eye on the stock and yes it could keep going down. But there is a chance ETE could eventually follow SSN and SEA (marginal or ex marginal gas producers) into the shale oil business with success given the size of their niobrara holding. Strip out the boards and SEA and SSN would not even have a hand full of employees between them. It is a question of how good the land is and establishing relationships with the big players with the technical skills who will realise the value for you on farm in.

This is what NFEI has done with their DJ Niobrara. IMO abject failures as operators (don't know what ETE expects to get out of them for Green River) and basically a one man band, but now into bed with one of the majors for cash + 30% royalty and immediate 3 well horizontal program. I would be more than happy with that deal for ETE.

But with land going for as little as $25 per acre in the last auction a few weeks ago, plenty still don't think this basin is good for anything other than a margin gas and/or enhanced injection recovery play.

IMO it does not really matter who the CEO is or even if they have one, if Whiting drills a cracker next door (and they have the skills to do it properly) no further publicity will be needed and many of the majors will be knocking on ETE's door with the cheque book for a piece.

In the mean time - I watch.