Just read a recommendation there of EPL. Yikes! Reserves will only last 5-7 years! This throws this company into a totally different light. If this quarters exploration is successful, this company should hit forty. If we have another bad year, this company is going to be hurting bad.
Sorry mike, with a peg of .39 and 8.2x '07 est Earnings of 3.19 = $26.158. Denali is not figured in. EPL is about as cheap as it can get, you should be able to see that with one eye. Energy Partners is a strong buy here.