And when they report bad numbers I guess they will roll out another buyout rumor to keep it up. That is unreal how ANR can go down yet WLT is kept up. Tomorrow you are going to see how bad it is at WLT and you will be glad you own ANR. Replacing board members is not the answer. This is like trying to put the genie back in the bottle after it is out.
Cost is too high at WLT and they are spell chapter 11 if Met stays below $165 all 2013 for WLT. It is a two edge sword at WLT because they also sell NG which is below cost.
CNX is between a rock and a hard place. Coal division going down. NG division not making money. ANR management is being very smart with NG wells with Rice energy. It looks like at the start Rice thought that ANR was going to pay all the bills. I have found where Rice went around and gave $500 a acre to lease land and had to back out of deals because Alpha was not going to pay all the cost. In 2011 they said they would drill 4 wells at $20 million. Those wells cost about $5 million a piece so that would be Alpha buying the whole bill but if the deal was a 50/50 split then Alpha would have owned 50 percent of 8 wells for $20 million.
This year I have found where Rice energy is drilling more wells. The question is why has Alpha not made known how many NG wells we have now. Is this to keep ANR stock cheap or did the Rice energy deal fall apart. It is time we found out and Alpha management needs to provide a update . I hope all shareholders will email management and ask for this information. Ben.