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  • It Is Chesapeake's Board Of Directors That Needs To Go First [View article]
    There are a number of politicians on the board of Chesapeake and I think they are clueless about the oil and gas business. They were buddies of Aubrey who will obviously do as he says.

    We know that the wells coming out of the Fayeteville leases are in the majority very weak. That is reported in the newspapers in Arkansas. What do you mean we have no way of knowing? I don't know if Price Waterhouse had any interest in Enron or not, but many smart people did . The investment firms have to depend on the financial reports put out by the companies and can make investments that go sour, whether they are stupid or not.

    It has been a fear that Aubrey has a big conflict of interest in his personal hedge fund operation. He could play off agianst Chesapeakes hedge plays and make a profit on Chesapeakes gains.

    I have no idea how all of this will play out but it looks very scary. Good luck to you Steve, but I am sitting this one out.

    I got out of Chesapeake when the board bailed out Aubrey with a huge bonus after he had a huge margin call loss. Thank goodness I got out without a loss.

    Out here in the oil patch, it is common for operators to claim big prospects for their holdings and then sell out at a high price. Buyer beware.
    May 7, 2012. 09:50 AM | 4 Likes Like |Link to Comment
  • It Is Chesapeake's Board Of Directors That Needs To Go First [View article]
    What I am am concerned about is the value of the companies assets being grossly overvalued. They sold BP the leases in the Fayetteville shale to BP at a big price and it turns out that the production is not panning out. Is this an Enron in the making?
    May 7, 2012. 08:14 AM | 3 Likes Like |Link to Comment