The Company is engaged in the exploration, development and production of natural gas and oil in the United States and Australia.
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This company is quietly establishing all the right plays. It has acquired large amounts of acreage in developing plays. It is also managing cash very well and finding ways to cut costs as develops new wells. The downside is being a small company makes it more vulnerable to swings in the market price of gas as well as paying high prices for the money it does acquire (12.5% on notes currently due 2012). However, I believe as we move to a greener (environmentally and hopefully through my portfolio as well) that natural gas will increase in demand. It is one of the cleanest fossil fuels. I am currently positioned at an average price of 2.40 and expext to see 3.50-4.00 within 12 months which makes 1.77 a great opportunity to get in.
Has anyone heard any recent news about Gastar? It doesn't seem to be moving up when the oil & gas sector does. Are those lawsuits we heard about a while back going to be a major problem?