He did yes.. But on more than one occasion other board members have mentioned triple digit.. Can't he arsed to go back and trawl through posts.. Can someone else back me up here?? There was definitely a post titled £1 not that long ago..? Is it just pie in the sky? Has anyone in this board ever witnessed such a stratospheric rise within AIM?
Crude, you really must read the book The Frackers, mch of it is on Chesapeake and after I read it I thought that I would never buy shares in another oil company, gas is the bridge. Just on the subject of books I read about Tony Ryan, who became one of the richest men in Ireland with Guiness Peat Aviation, aircraft leasing, lost the lot and ended up with a small airline called Ryanair, which his assistant Michael O'Leary told him to get rid of. On his 60th birthday he took a Ryanair jet, with 60 of his friends to Rabat, they were all dressed in beachwear and it rained the whole time, so be warned!
That once mighty Chesapeake Energy would suffer such a downturn - but over-production is wreaking havoc stateside:
'Chesapeake Energy (NYSE: CHK) saw its share price crash on February 8 after news reports suggested the company was looking to restructure more than $9 billion in debt, raising fears of Chapter 11 bankruptcy. The company said it has no plans to file for bankruptcy, but its share price fell by more than 50 percent in early trading on Monday, before regaining some ground'.
'Reuters reported that a bankruptcy from the nation’s second largest natural gas producer would ripple across the midstream sector. Pipeline operators Kinder Morgan (NYSE: KMI) and Williams Companies Inc. (NYSE: WMB) could be vulnerable to a Chesapeake bankruptcy because they have contracts with the gas producer for pipeline capacity. Even though some of their contracts include minimum volume provisions, which would require a company like Chesapeake to pay the pipeline operators for space regardless if they actually wanted to ship gas, the pipeline companies still might be forced to take a hit given Chesapeake’s dire circumstances. Whether through bankruptcy or renegotiation, minimum volume contracts might not be quite as safe as the pipeline companies had thought. Williams, for example, might lose $300 to $400 million because of Chesapeake’s woes'.
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