Eric Fox

Eric Fox
Contributor since: 2007
Yes, I agree. If there was any chance of moving U.S. production higher over the next decade, the Gulf of Mexico was a big part of that.
One interesting part of the Symetra IPO is that neither Berkshire or White Mountains is selling shares.
Check out Weis Markets (WMK) - a story similar to ARDNA with high family ownership and no debt.
Perhaps Motorola management should have considered that the sector was overvalued at the time due to investor hysteria over the Internet, instead of listening to short term oriented investors and analysts who kept telling them they had to get into this business.
Let's try it again:
click on research and then on article entitled:
Concentrated Ownership and Discounts on Closed-End Funds
Here's the link, it didn't go through on the previous message:
Investors interested in CET should read this article. It is very old but mentions a lot about CET and Wilmot Kidd, its manager.'s interesting that CET was probably one of the Closed end funds that were part of the 1929 mania that you wrote about here:
I wonder how many others besides CET are still around.
Question - you say that the fair value is $3265 a share. What is the tangible book value per share of PRAC? Liquid publicly traded insurers will usually trade at a multiple of tangible book value.
It is a myth that the cost to find and develop oil and gas resources is continually moving higher. All the cost inputs into this process are intensely cyclical - this includes the cost to lease acreage, the cost to lease a rig, and other oil service costs.
Other facts about the OXY discovery - the 150-250 million BOE estimate is only based on the area delineated by six test wells ("We believe that there are between a 150 million and 250 million gross BOE of reserves within the small producing area delineated by the six wells drilled to date.")
OXY has 1.1 million acres that are potential for this.
To isaac - just speaking about the OXY discovery - the finding and development costs will be less than $10 a barrel ("The combined finding, development, and lifting costs are expected to be significantly less than $10 of BOE.")
Occidental just found a new oil field that contains 150-250 million barrels of oil. They found this in California, a mature area where supposedly there is no oil left.
(Bloomberg) -- BP Plc, Europe’s second-largest oil company, reported a “giant” discovery at the Tiber Prospect in the U.S. Gulf of Mexico that may contain more than 3 billion barrels, sending its shares higher.
Any out there ever heard of BP and the Lower tertiary??
The current glut in NG is because of all the shale wells that need fracing, which is what BJS does.
This seems more of a take under to me. BJ Services shareholders should be outraged.
ATT and Yahoo are related??? In what way?
"BG Group (BRGYY.PK) will pay $655M for a 50% stake in EXCO Resources' (XCO) U.S. shale gas project, and will pay another $400M to fund capital development. This is the latest in a series of BG acquisitions, and follows similar moves by other international oil companies interested in the U.S. oil shale sector."
Is this oil shale or gas shale? You mention both in your lead.
"the share of CRE loans relative to total loans is very high"
This is one way to look at it, but underwriting standards are key, as some banks may have underwritten owner occupied only or kept LTV's under 80%.
The IEA also said that oil demand won't exceed the 2008 level until 2012. This assumes a more robust economic growth scenario. If they use a slower growth scenario, then oil demand in 2014 will actually be LESS THAN it was in 2008. (yes, I put that in bold on purpose)
It has been a disappointing stock the last two years.
Jack Byrne was a legend and it is difficult to follow in his shoes.
They also have approximately $33.5 million in restricted cash and equity investments at March 31, 2009. Don't know if this is included in your total. comment was not a criticism of you or your investment process. I am in favor of investors doing as much independent research as they can before making an investment.
The worst reason I can think of to buy a stock is because someone else is buying it.
On May 05 09:27 AM thotdoc wrote:
> They may not be "smart", but they still throw around a lot of weight.
Denbury has properties in the Barnett Shale that produce gas, and just for the record - the entire concept of "smart money" died during the financial crisis.
Excellent article. Question - would you consider the F & D cost a "sunk cost" at this point when the company makes a decision on whether to produce from existing wells? For new drilling I assume they would include this figure in return calculations.
I was referring to companies that are shutting in production not cutting drilling. The point I was trying to make was that CHK alone can't balance the market through its shut in of gas production. This was point one the author made.
What have other companies said about trends in Corrugated Box Shipments?
"Chesapeake Energy Corp. (CHK) announced plans to cut natural gas production further..."
Has anyone seen any other announcements about cuts in natural gas production from others besides CHK?