CHK hits 52 week low

[tul9033]

http://www.businessweek.com/news/2012-05-02/chesapeake-s-biggest-holder-may-seek-third-party-involvement

Chesapeake fell 13 percent to $16.97 at 2:40 p.m. in New York, after earlier dropping 14 percent, the biggest intraday decline since March 2009. The stock lost 49 percent of its value in the past year.

 

[inactive]

http://www.reuters.com/article/2012/06/25/us-chesapeake-land-deals-idUSBRE85O0EI20120625

Special Report: Chesapeake and rival plotted to suppress land prices

n emails between Chesapeake and Encana Corp, Canada's largest natural gas company, the rivals repeatedly discussed how to avoid bidding against each other in a public land auction in Michigan two years ago and in at least nine prospective deals with private land owners here.

In one email, dated June 16, 2010, McClendon told a Chesapeake deputy that it was time "to smoke a peace pipe" with Encana "if we are bidding each other up." The Chesapeake vice president responded that he had contacted Encana "to discuss how they want to handle the entities we are both working to avoid us bidding each other up in the interim." McClendon replied: "Thanks."

That exchange - and at least a dozen other emails reviewed by Reuters - could provide evidence that the two companies violated federal and state laws by seeking to keep land prices down, antitrust lawyers said.

Welllllll this can't be good...

 

[338Shooter]

Hmmm...

 

[HackerF15E]

At this point, is anyone surprised by any news out of the McClendon camp?

 

[Mr.357Sig]

If my dad didn't work for Cheasapuke, that would be a pretty funny story.

 

[dieseltech09]

 

[inactive]

At today's closing prices I think I'm going to buy. They've rallied before.

 

[Shadowrider]

At today's closing prices I think I'm going to buy. They've rallied before.

I haven't actually looked but my news feed tells me the insiders are buying like crazy.

 

[inactive]

I haven't actually looked but my news feed tells me the insiders are buying like crazy.

LOL I knew you'd be the first one to post in here.

 

[Shadowrider]

LOL I knew you'd be the first one to post in here.

I've been in and out of CHK so many times over the last 12 years I can't see straight. I've exited the position in the black maybe twice. I'm done with them. But maybe not? At $0.60 how much more can I lose? LOL