Dan,
Do you follow or have an opinion on XCO? As memory serves, about 16-18 months ago the ceo and friends, Wilbur Ross and Pickens and others, wanted to take it private at around 20-21 (easy to see on a 2-year chart) but the board turned them down. Wilbur Ross has continued to buy it all the way down to its present price of around $7.00 and various hedgies have followed him into it. Any thoughts? Thanks.
XCO
Re: XCO
EXCO is a gasser that does not look very good to me. They are outspending cash flows from operations. If natural gas bounces back to $4/mcf it should make it.
I think you will be able to get it in Sept/Oct at or below today's price.
I think you will be able to get it in Sept/Oct at or below today's price.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group