What was up with that KOG loan, not closing until 1/12/12? Got to say NOG has a lot of oil hedged at a lot lower prices, just like KOG. Makes earnings look bad, but they still delivered a lot oil on those contracts for a lot of cash. Paper loses here we come.
NOG and KOG are somewhat different beast. NOG is mostly a non-operating partner. Most of the revenue are from % of revenue from operating partners. In another word, NOG won't have derivative loss. NOG has low operating expenses, because it is a non-operating partners. NOG has only $15M debt and has low interest expenses. I am confident that NOG will beat earning. Good luck! :)
There will be correction for KOG. KOG P/E ratio is too high at this point and obviously earning doesn't support it.