GREY:CLLZF - Post by User
Post by
leveraged1on Jan 09, 2010 9:14am
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Post# 16658756
Hedging revised
Hedging revised
With the expiration Dec 31,2009 of previous heging activity new hedges are in place:
1) 12 months - 2,500 bpd $78.00 ( pre sold all of calander 2010)
2) 3 months - 2,500 bpd $79.02 ( pre sold Feb,March,April 2010)
plus a costless collar:
3) 8 months - 2,500 bpd - which quarantees no less than $74 pbd and no more than $95 bpd no matter what the market does (May through December 2010).
I guess the bankers want security ( as well as managements and some of the less speculative shareholders)
Personally I really like # 3 - much less so # 1 & 2
COMMENTS ANYONE?