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Encana Corporation Message Board

  • beaner9576 beaner9576 Jun 26, 2012 11:13 AM Flag

    CRIME investigation, good chance of finding a lot more corruption

    Not worth buying. Too Risky

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    • alot more than uuu know!!!!! and they got cought

    • word in the pitz is sell///mmm are in a panic that FED slams ECA & CHK

      Sentiment: Strong Sell

      • 1 Reply to cowjj33
      • I don't like it any more than anyone else. But I am still buying.

        1. The e-mails I have seen quoted are all internal CHK e-mails. CHK bragging that they are having discussions with ECA does not mean they actually had any meaningful idscussions that were improper. CHK is loose as a goose and I can imagine their people putting spin on lots of things in reprots to their superiors. Obviously ECA will have inetrnal documents and also do interviews with everyone who worked on Michigan land aquisition and I believe they will be open about what they find, which may or may not be highly damaging.

        2. I have seen the graphs used by Reuter's to compared the land values at the two land sales auctions. Trouble is the entire natural gas sector had COLLAPSED during the interval. At time A, nat gas was flying and it was widely believed that $10/MCF would be the new LOW. At time B, the worry was that gas would overflow storage and that $2 was a barrier that might be breached. Is it a wonder land sales went off at different prices in the two auctions. You would haev to look at land sales for nat gas leases in other areas at the same two time points.

        3. The fact that ECA and CHK bid in different counties at the second auction is worrisome. But both companies are trying to establish contiguous positions. So the location of bids in the last auction would likely be largely determined by their successful bids in prior land auctions as they were lasgely adding new acres to build concentrated positions.

        Anyway, I am sorry that this happened just as I was carrying out my plan to add to my core ECA position. I have almost hit my target (only a couple hundred to go). It is making these last shares cheaper.

 
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