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landownerPermalink Reply by sesport on February 14, 2009 at 4:42

What he had to "let go" barely made a dent in his 2 million + shares. Second swap meet, he & execs sold what they acquired for $0, yes zip, nada dollars. As far as Exxon & BP, I think he's traded some favors along the way to keep them at bay. JVP with BP, acquisition of DDJET ... nah, they're golfing buds.

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Oil & Gas ProPermalink Reply by Dion Warr, CPL on February 14, 2009 at 12:43

Sesport:

Before the margin calls in October, Mac had over 33 million shares. He was forced to sell these shares for $550MM to meet the calls. Really a big, big hit.

Of course, he still has other perks and holdings, and his contacts.

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landownerPermalink Reply by sesport on February 14, 2009 at 14:05

I stand corrected ( thanks, Dion ). After the garage sale, Aubrey had "significantly" fewer shares. But, he acquired 375,000 more shares for $0 by Jan. 2, '09, then immediately turned around over the next 2 days and sold 35.5% of those shares @ $17.27.

Dion, after the way that some of the citizens here have been reportedly treated by CPK and/or it's agents in the rush to acquire acreage before the Average Joe could get educated or get competent counsel, my sympathy button is stuck on off.

I do appreciate your input & that you've pointed out how truly, truly blessed Mr. McClendon was, actually still is as a result of CPK's E&P in our & other areas of ng play. :0) sesport

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landownerPermalink Reply by sesport on February 14, 2009 at 14:43

buck - go easy on Aubrey, it's been a rough year. LOL You want to know how some of the other execs did at their garage sales?

Marcus Rowland (Exec. VP & CFO) acquired 80,000 shares @ $0 on 01.02.09
divested 5,575 shares @ $17.27 next day
Steven Dixon ( Officer, EVP) acquired 80,000 shares @ $0 on 01.02.09
divested 10,143 shares @ $17.27, same day

I've got a 2 1/2 page list ... more of the same ...

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Oil & Gas ProPermalink Reply by Dion Warr, CPL on February 15, 2009 at 6:35

Bill Buck:

He had use the $$$(!!!) to pay 'the man' for what he used to buy other people's shares as far higher prices. The shares were not so much sold as they were a forced liquidation.

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