john campbell from ogw warned everyone, page-20

Good evening,
DarkCloud, SteveJD, Scientist and Freespins,

Its a pleasure to speak about these new aspects to be honest. On Friday, all people did was react, Fair enough, theres no time to think sometimes in this immeasurably volatile economy. We have been very lucky in the past compared to others. Over the weekend we have had time to think. calculate and importantly arrive - as opposed to being lost. I have arrived at a place more secure than prior to now for good reasons. The data room DID, the IRR DID, the GS mandate IS and the sale SHOULD happen.
Closer than ever guys, closer than ever and i cant beleive it - with an edge in this market.
Of all the pending sales in the USA (and there arent tens or hundreds at any one time) we would have one with credentials on the high side of the spectrum due to actually having infrastructure and a workable acreage from which there has been proven to serve as both a security (not just an acreage) for a liquidity as well as an income.
Some in the US are facing terminal writedowns and from what i can see absolutely noone is escaping it, AUS, UK, USA - no matter where.
Thsi company would have been stress tested twice in the last yr and the banks would have hypothesised this low gas price outcome on companies - its no secret in the industry i have realised this weekend. In fact its almost uneventful considering the whole formulae is based on a permanently sliding average and not a tangeable commodities volume per se.

Scientist, yes, i got joy when i called the US.
Her husband was on the toilet so he couldnt talk to me. lol.
Seriously, i did get joy on Friday night and as i was waiting for a call to be returned from the US, i stayed in research and interview mode all night till 6:30am and killed time making the calls and reading.
Everything i am saying has come of that after taking a day to digest and calculate some estimates.


DarkCloud,

I would imagine that it would be officially hovered around by GS men in dark suits, knowing sales speils and rolling figures by rote. After the 30days, i assume the only thing that would happen is that another phase would commence, perhaps formal submissions?
I'm sure the data will be forever circulating at this time to assist the sale as copies are forbidden to be removed or copied, photgraphed etc...(copyrights, contracts, liabilities, exclusivity, condition of perusal etc).
Thats the routine i am familiar with when i have been ushered around in a broker environment. They want to sell it to you - if you let them take it away all sorts of cans of worms ensue and you lose the full control and ability to press their buttons, keep em hot and close em on the spot. Its also not done so as to be able to best qualify them by seeing who comes back, whos keen, who calls etc etc which guages their seriousness and the amount of time to dedicate to them as a potential sale etc etc etc.
I would say that the sale process is behind the need for a legal curtain.

StevenJD,

No idea mate. The game changed for players last month/quarter to be real. We now need to isolate the new figures for each of their gas inventories in order to be able to mark potentials (especially contingent gas in storage etc due to its ice-berg effect....1/5th above water is all we see but the 4/5ths underneath the surface create most of its cubic volume).
And yes, they will develop it when it suits them. The only "idea" i have on the spot is that a company who already has a good, producing supply would want Clear Creek so they could put less economical reserves of their own into storage, would be ideal. Clear creek is an all rounder capable of being loss proof in a production environment, as stress tested.
Anotehr company who may want Clear Creek is one who needs some leverage at the moment (or in the near term more likely), who could borrow against it at a future time.
potentially, depending on the buyer, the acreage serves as a number of things, not just an immediately produceable feild. It may remain shut in to someone like Caltex who are buying us for only Mancos Shales or Emery Coal Bed Methane? Now that i discuss it, there are a hell of a lot of buyer types to market to and i'm sure GS are onto it in a big big way and that they will eliminate the tyre kickers and command professional respect to the last signature is dry.

Freespins,

There is certainty when you are aware of information when there is uncertainty without it. Theres a bit of research you could do to alleviate the unknown to you and i wish you the best. Dont hesitate in calling the company.
ODY have a pretty good idea for sure, many have observed the difference in loyalty between the ODY and MAE shareholders and the difference in personality each stock has, even on the charts.
You reckon a bounce? I reckon abounce too. Maybe straight over 45 when the clock gets ticking and they see no dumpers.

Cheers,

Lautrec.