With 77% of Chesapeake's (CHK) estimates of its reserves produced by independent firms in 2011...

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abudigt Comments (21)
 
Too many short postion on the share. They will always do their best..
12 Aug 2012, 04:20 AM Reply Like

scottwalton Comments (8)
 
I also read this in the Weekend WSJ. Between this and the recently announced legal action, I finally pulled the ripcord and bailed out of my position with CHK. I understand that Aubrey built the company, but there comes a point where investors should ask, "What have you done for me lately?" and convince the activist shareholders to name a new CEO.
12 Aug 2012, 09:38 AM Reply Like

Day Trader001 Comments (505)
 
You should have waited until this winter.
12 Aug 2012, 03:27 PM Reply Like

westelk Comments (129)
 
BOO! to Seeking Alpha for that published snippet. If you actually read the story, everyone is writing down reserves because low prices make drilling uneconomical.

What hasn't been explained is whether the write downs reflect CHK's holdings in total, or mostly the leaseholds expiring this year.
12 Aug 2012, 10:32 AM Reply Like

Harry Johnson Comments (457)
 
Let's see. E & Ps of a certain size have to price their reserves at the end of each quarter using a twelve month trailing average for oil and gas prices (like marking your stock portfolio to the market). Oil and gas prices have fallen during the last 12 months; thus, a write down of reserves is to be expected. The exception would be a company that commissions an independent evaluation of drilling results every quarter, the addition of which might offset the write down.
12 Aug 2012, 03:04 PM Reply Like

joe kelly Comments (1427)
 
You're never wrong to take the profit or play it safe Scott. Dig the irony though. "Day Trader" tells you to wait till Winter to sell.

It falls under $15 again I'll buy a couple hundred shares though.
12 Aug 2012, 05:05 PM Reply Like

Day Trader001 Comments (505)
 
Joey,

You are jumping into something that is not a fight!

Where do you read he is taking a profit? Do you have any idea how much of a loss he is taking or how long he has been holding CHK? I don’t, but if he has been holding a long time and is under water, why wouldn’t you wait until oil/gas peaks? Chances are this winter will not be like last, and CHK is not going anywhere.
Personally, I have several thousand shares of CHK, and that is my intention, to sell this winter! Not at a small gain or loss.

Your little 200-share investment for 15.00 is nothing more than change, if you are trying to impress someone, you just made yourself look like a chump!

Try 20-50,000 and you may get a blink. You just keep trying to make sense out of this senseless world “By Yourself” you have no worthy or constructive input!
12 Aug 2012, 05:30 PM Reply Like

jbassbia Comments (310)
 
BP wrote down $2.8 B on shale gas acreage - Article Link http://www.amp2012.com August 5
12 Aug 2012, 06:54 PM Reply Like