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Permalink Reply by Krkyoldhag on May 2, 2012 at 2:21

Cheasapeake royalties to owner I know have dropped to hundreds ...Seems the money loaned (to CEO ) is impacting the royalties as an expense.  She just got this state of the art slick prospectus/annual report from them  asking me how can they afford to publish this $$$ thing?  I just smiled said you paid for it.

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Permalink Reply by Max on May 2, 2012 at 8:38

Anybody ever hear of "ENRON"?

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Permalink Reply by JHH on May 2, 2012 at 9:08

The current rumor is a takeover of Chesapeake.  But it's hard to determine the company's valuation partly due to so many investors domestically and overseas.  It does't quite feel like an ENRON yet... but that's been on the mind of a lot of people for years.  It's all very unfortunate.  Hopefully the royalty owners and investors survive this.

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Permalink Reply by Joe Aldridge on May 2, 2012 at 10:49

Max,

I don't know where your reference to ENRON comes from. Enron had no assets. They were a trading company that made money on the trade of NG, etc. CHK has assets. From rigs, to a trucking company, to actual reserves in the ground. Where are you guys getting this stuff?

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Permalink Reply by Joe Aldridge on May 2, 2012 at 15:37

Jay,

I agree. The problem today is this society is an "instant gratification" one. If you can't deliver on that schedule you are screwed especially if you are a public company. The value of the NG resource will come back. His problem was he and the other companies found too much and he leveraged too much getting getting it.

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Permalink Reply by Max on May 2, 2012 at 14:35

Touched a nerve there, huh? 

Crooks are crooks.  If there's a snake in the wood pile, sooner or later, he'll bite you.

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Permalink Reply by Krkyoldhag on May 2, 2012 at 16:10

Safeway  had as.sets but is no more.  Stockholders lost.  The board didn't.

Maybe the NG prices will rebound in time to put their stock back up ...if so they will survive. 

I hope the CEO and board are honest men who can fix this rattle that is affecting their stock prices in such a negative way. 

They pioneered the Shale boom.  But just as Beta Max was better machine then VHS Sony ..we all ended up with VHS Sony's. 

I certainly do not want all that shale gas to be owned by foreign investors.

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