Good energy trade

Huge pullback with recent buying, short term play with target of $70.

Buy - Price 66.41 on June 18
by Jefferies & Co.

Concurrent with the standardization of Haynesville Shale assumptions (acreage impairment, well economics and spacing) across Jefferies' exploration and production group, and also incorporating [GMXR's recent] acquisition, we're raising our price target to 82 a share from 63.... Multi-rig development of Haynesville potential should begin by the end of this year. We estimate [that the new 27,500-acre] acquisition was done at a cost of around $4,500 to $4,700/acre...which should be funded with GMXR's expanded credit facility and shouldn't require new equity capital. The new assumptions increase our [net asset value] and price target by $19...all attributable to Haynesville [east Texas/northwest Louisiana]. Market cap: $917 million.

Oil & Gas exploration could get real big in the US if drilling permits are issued.

7.3

takeover target in the oil and gas area

10.1, 21%

A Beneficial Owner (10% or more) has recently purchased 30,000 shares or $961,754 worth of stock.

Downgraded by AG Edwards from Buy to Hold