Michael DecterDaylight Energy LtdDAY.TOTOP PICKFeb 11, 2008
55% gas. Has done some hedging. Natural gas prices is his reason for liking this. They were down around $5/$5.50 and now at around $8.50 and staying above $8.00. The drilling rig counts are way off and drilling is way off and very high decline rates. LNG miracle is not materializing. Looking for higher natural gas prices and this is a good way to play it.
(Top Pick Jan 27/11, Up 7.62%) was taken out by a Chinese company. Didn’t predict it but clearly it was the smallest of the group. There will be more of a trend of this happening.
Being acquired by Sinopec International. He has tendered his holdings. When is a bid on the table and not likely to have counter bid, take the money and run.
Stock shot up when Sinopec Int made an offer to purchase at $10.08. If you own, he would suggest you take your money and run. There are still some regulatory hurdles.