Comstock Resources Inc T.CRK.DB

Primary Symbol: CRK

Energy Oil & Gas E&P

Comstock Resources, Inc. is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates through the exploration and production of North American oil and natural gas segment. The Company primarily operates in the Haynesville shale, a natural gas basin located in North Louisiana and East Texas, with economic and geographical proximity to the Gulf Coast markets. The Company is focused on the development of drilling opportunities in the Haynesville and Bossier shales and exploration activities in Western Haynesville play. The Company has approximately 2,959 drilling locations on its Haynesville/Bossier shale acreage, where the Company estimates to have 4.9 trillion cubic feet equivalent (TCFE) of reserve potential. The Company owns interests in approximately 2,478 producing oil and natural gas wells (1,516.7 net) and operates 1,703 of these wells.

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Comstock Resources Inc

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Post by sultan66on Jun 25, 2010 2:48pm

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Post# 17222702

CANACCORD MORNING NOTE

Australia Mining
Mining a Coup. After steering his Labor Party from 12 years of opposition through the global financial crisis without a recession, Kevin Rudd resigned as Australia’s prime minister and was replaced by his Deputy PM Julia Gillard, after she gained leadership of the governing Labour Party. At her first press conference, she set a more conciliatory tone regarding the proposed mining super tax, by calling for negotiations with the mining industry, as opposed to Rudd’s more hard-line stance. "Australians are entitled to a fairer share of our inheritance, the mineral wealth that lies in our grounds, they are entitled to that fairer share," she said in her first press conference as Labor leader. "But to reach a consensus, we need to do more than consult, we need to negotiate, and we must end this uncertainty which is not good for this nation." The tax, which the government thought would win popular support by spreading the wealth from the booming mining sector, has instead backfired as the public worries it will damage Australia's credibility as an investment destination. Mining giants BHP Billiton (BHP) and Rio Tinto (RTP) warned that billions of dollars of investment are at risk, and they have led a fight against the 40% levy, saying it would make Australia one of the highest-taxed jurisdictions in the world. This criticism has resonated with many Australians who own shares in
mining companies, often through pension funds. Rio Tinto said on Thursday any new mining tax in Australia must not apply to existing projects and the tax rate must ensure Australia remains competitive as an investment destination. Rio Tinto said it was "cautiously encouraged by the Prime Minister's invitation to begin full and open engagement on all aspects of tax reform."