PBR is the only company I have ever seen who will increase reserves multiple times, and lose value in the stock. But then again you could say that about all names with good E&P programs. APA is a bad gas play intl markets are touch, ootla play is a disaster waiting to happen ECA - hard to gage I think their drill bit program is not good enough. but canda is big swing factor, but like i said ootla is a disaster waiting to happen. DVN by far my favorite oily name, lower teritiarty and miocene great, haynesville will bridge the production growth gap Integrated ex PBR i’m still cautious on because of exposure to downstream and given the fundamental issues of demand it will continue to weaken. Also their Exploration programs are dreadful. Cash cows are interesting in this environment and that is where I’m hiding but it’s a rotation waiting to happen. The one exception is CVX compelling startups in both 2009 and 2010.
What is ootla?
Bristish columbia natural gas play that is a big part of the reserve growth of ECA and APA which have a JV in the field. Well results have been very promising, however this is a field that only works in the cold when frozen over. The geological concerns make me believe they are in for some issues as they try to develop the field. I will say that ECA has some haynesville which has had monster wells.
That is worse than the eToys guy who road his shares up, then road them back down.
holly *** he dead
He deaded himself bro
Interesting article on today’s SA frontpage
http://seekingalpha.com/article/3956330-chesapeake-will-soon-selling-natural-gas-0
LOL I almost spit up my coffee at comment 3.
interesting to read real market psychology from Oct 2008