Tuesday, July 1, 2008

HK, HK, HK, HK!!!! ~ Petrohawk Energy Corporation (Public, NYSE:HK)


We are running out of things to say about PETROHAWK (HK) ... boobs are good! 

After Hours: 51.90 +3.90 (8.12%) 

... on news of CHK selling some of its leasehold in the Haynesville Shale for a billion plus... HK has 275,000 acres.  hmmm... Floyd wins, we win!    

HK is the Haynesville Shale PURE PLAY! 

.... are you on "the team" ? 

11 comments:

BUY ON THE DIP said...

NEW YORK (Associated Press) - Natural gas and oil producer Chesapeake Energy Corp. said Tuesday it entered into a joint venture with oil and gas company Plains Exploration & Production Co. to sell a part of its leasehold in natural gas deposit Haynesville Shale.

Chesapeake said Plains Exploration agreed to buy a 20 percent interest in its leasehold as of June 30 for $1.65 billion in cash. Chesapeake owned about 550,000 acres of the shale, in northwest Louisiana, as of that date. As a result of the joint venture, Plains Exploration will own 110,00 acres and Chesapeake will own the rest.

Chesapeake said it plans to keep acquiring leasehold and Plains Exploration will have the right to a 20 percent participation.

Under the joint venture, Plains Exploration has also agreed to fund 50 percent of Chesapeake's 80 percent share of drilling and completion costs for future wells over a period of several years until another $1.65 billion has been paid.

Chesapeake said the companies' current leasehold could hold unrisked unproved reserve potential of 23 trillion to 44 trillion cubic feet of natural gas equivalent.

The company added it expects to drill at least 600 wells over the next three years.

Chesapeake shares rose $1.39 to $68.75 in after-hours trading. During regular trading, shares rose $1.40 to close at $67.36.

BUY ON THE DIP said...

BUY the AUGUST, SEPT, DEC calls!

Petrohawk said it is currently drilling three horizontal Haynesville Shale wells and expects to have six operated rigs drilling Haynesville Shale wells by mid- September, 2008.

The company intends to bring its total number of operated Haynesville Shale rigs to 10 by the end of 2008.

Anonymous said...

Hi..
I have been following your posts and did buy some on your recommendation, but everytime you said about HK, I thought the run is over and everytime I was wrong and you were right.

Finally I did buy in yesterday after it rose 7% and I am glad I did so. You are such a great picker.

Keep it up. I love your picks and posts.. HK rules!!

BOTD rules! said...

BOTD,

you guys have championed HK. great stock, great site. your faith in floyd is amazing. you must be rich by now.

what about QBIK? that little guy looks ready to go higher.

Bluedog said...

That ivy sure looks lush!! Congrats on HK

BUY ON THE DIP said...

thanks guys,

.. QBIK, love the ticker, is fine ... but its HK, HK, HK. just buy the one. we keep trying plays on HK , like BWP , XTO, etc... and even recently some of our HK profits have gone toward crap like SWC, PAL, HQS, CHP, RICK, etc.. if we had just bought more pertohawk instead , blah, blah, you know the story...

HK, last month up 60%+ .... by far our largest position, with the common stock and a gourmet spread of options contracts from July to Dec, .... it's a beautiful thing.

the DIPfolio hits all time highs daily because of one stock.

p.s.

FLOYD WILL SELL THE COMPANY.

BUY ON THE DIP said...

thanks BlueDog, it's been unreal.

surrounded in green and boobs
... just the way we like it.

Anonymous said...

when are you appearing again in google finance? we miss the team cheers.

Skywalker said...

When do you think Floyd will sale?

Anonymous said...

XTO and Devon are now moving into the Haynesville Shale play. This brings more legitimacy to the play and more options to the table for HK. I live in the middle of the play and rumors fly daily but an intriguing trend is the increasing interest in the "Bossier Shale" and its possibilty of making the area exponentially more productive.

raylight said...

I love HKPOPS!!!