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Permalink Reply by Les Bamburg on July 26, 2008 at 13:11

Yes in 2006

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Permalink Reply by drillbit on July 26, 2008 at 13:48

I do not care for Winchester and I have my reasons...take it from there!

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Permalink Reply by Susie on July 27, 2008 at 7:56

I'll find out.

FYI:
EXCO Resources explores possible joint venture
AP
Posted: 2008-07-16 10:59:14
DALLAS (AP) - Oil and natural gas company EXCO Resources Inc. said Wednesday it is working with Goldman Sachs & Co. to explore a possible joint venture that could include the sale of up to 50 percent of its holdings in certain regions.

The joint venture would be designed to enhance the exploitation and development of holdings in the east Texas-north Louisiana region and its Appalachia operating areas, the company said.

Proceeds from any sale, which could include reserves, production, acreage and other interests, would be used to lower debt, help fund exploitation and development of shale areas and be used for "general corporate purposes," the company said.

EXCO said "there is no assurance" a joint venture would result in a business plan change, and that is does not expect to update the public with additional information until its board has signed off on a deal "or otherwise deems disclosure appropriate."

EXCO said it has 1.1 trillion cubic feet equivalent of proven reserves in the east Texas-north Louisiana region and 0.6 trillion cubic feet equivalent of proven reserves in the Appalachia region.

The company said it is also contemplating a separate joint venture for its east Texas-north Louisiana region midstream assets.

Shares fell $1.48, or 4.2 percent, to, $33.80 in morning trading. So far this year, the stock has more than doubled in value.


Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks

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