Continental Resources (CLR) Update May 17

[dan_s]

I just finished reviewing our updated profile for CLR. It has a lot more upside for us.

Despite the Company's size, First Call (Reuters) is way behind the curve on CLR. First Call's revenue, earnings per share and cash flow per share forecasts still include numbers from some very old forecasts that are based on much lower oil prices.

CLR has zero oil hedged. That adds some risk, but a whole bunch of upside.

My valuation is now $85/share, but if WTI hits Raymond James forecast of $75/bbl by Q4 my valuation will go over $100/share.

CLR should be a "Core Holding" for any of you that believe oil prices are going higher.

We will send out the updated profile on Friday morning, May 18.