Energy Prospectus

Brigham Exploration Up 3.5%, Announces State 36-1 #2H Rough Rider Three Forks Well and Three High Rate Bakken Completions 10/05 07:15 AM



08:15 AM Eastern Daylight Time, 10/05/2010 (MidnightTrader) -- Brigham Exploration (BEXP:$19.89,00$0.97,005.13%) said late Monday it completed the State 36-1 #2H Rough Rider Three Forks well, its first Three Forks well west of the Nesson Anticline, at an early 24-hour peak flow back rate of approximately 2,356 barrels of oil equivalent. It also announced three Bakken completions, including the Domaskin 30-31 #1H Ross project area well at an early 24-hour peak flow back rate of approximately 4,675 barrels of oil equivalent. As a result, BEXP has now completed 36 consecutive high frac stage long lateral Bakken and Three Forks wells in North Dakota with an average early 24-hour peak flow back rate of approximately 2,684 barrels of oil equivalent. In addition, BEXP announced the acquisition of additional leasehold covering approximately 10,200 net acres in the Williston Basin, approximately 7,600 of which is located in its core Rough Rider project area. Price: 19.6, Change: +0.68 , Percent Change: +3.59
http://www.midnighttrader.com

For those who like BEXP, take a hard look at CLR. CLR is the newest member of our Sweet-16 Growth Portfolio.

Dan

i've just noticed that bexp is breaking out of an ascending triangle with a target of 24-25.

fwiw

stolen from IV bry bd---------------

Brigham Exploration Receives Informal Approaches: DealReporter

By Arie Shapira and Josh Fineman

Oct. 7 (Bloomberg) -- Brigham rises as much as 5.2% to
highest since May (all-time high) after DealReporter says it
received informal interest from potential suitors, citing CEO
Ben “Bud” Brigham.

* Brigham expects interest to increase next year following
recent success in Bakken

* Previous reports by DealReporter pegged HES, COP, MRO, WLL,
CHK, CLR as potential acquirers in Bakken

* NOTE: BEXP rose ~6% on Oct. 5 after reporting strong results
in initial Three Forks test

* Options: Call volume rises to 5x avg, 8x put volume; most-
acive call contracts are Oct. $22.50, Oct. $20, Nov. $23,
together accounting for nearly 80% of total volume

Bud Brigham has been dreaming about this for years. He will definitely accept a reasonable offer. Hess Corp could pull this off.