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Friday, July 29, 2011

Chesapeake Announces New Liquids Play Worth About $25 per share

F-me.  I remember vividly putting a buy order in on a Saturday night last summer for CHK at $21.  I was ready to plop 10% of my portfolio down on it.

I chickened out before Monday because I just couldn't get over Aubrey and his pay packages and margin calls.  Now up more than 50% from there and still likely worth 3X the current share price someday.

Big news on a Utica play:

http://seekingalpha.com/article/283043-chesapeake-energy-s-new-liquids-play-worth-as-much-as-entire-current-share-price
Posted by Devon Shire at 6:46 AM
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3 comments:

  1. There are so many other opportunities out there, you don't have to cope with Aubrey. I sold my CHK shares as soon as the margin call story came out : if the guy manages his personal finances recklessly, imagine what he's doing with other people's money...

    ReplyDelete

  2. Devon,

    Just because Aubrey says something is worth 20 Billion doesn't make it so. It is rather funny how he has land men out offering 2 K per acre while at some same time he puts on a Dog & Pony show claiming it is worth 20X that amount.

    I am glad to see your recent purchase is working out, but I wouldn't advise spending your 3 bagger until it actually is one.

    Sincerely, your favorite antagonist, :<)

    B

    ReplyDelete

  3. You are an antagonist, but hardly my favorite.

    What will you say when Aubrey sells 25% of this play 9 months from now that recoups 100% of what CHK has paid for the acreage and still leaves them with 75% ownership ?

    Do you really doubt that they will do exactly that ? They have done it so many times now that I've lost track.

    I've doubted him all along, but every property value that he has suggested has been backed up by a JV subsequently.

    Of course every one of these JV partners may be overpaying. Just like they all can't figure out that shale gas is a hype job.

    ReplyDelete

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