You know, it could be worse. CHK could have spun off a part of the company that was not making money, instead of trying to keep it whole. (WMB is in mind. Talk about stock value dilution.) It's all a matter of trade offs and deals.
I don't want to seem to be in the dark, but it would seem to me this company is a buy. I don't think other larger companys can find gas as inexpensively as they can just buy this company outright. You don't have to be a rocket scientist to see that the management has put together an efficient company that's stock price (for what ever reason )is selling at a discount to the real value of it's assets.
Just me thinking because I liked the thing three years ago........ and all thats happened is it is getting better ( kind of like my wife)...has it ups and downs but who doesn't.