berkeley petere the last posting, i think berkeley and a lot of gas heavy energy stocks for that matter will do very well in the next few months as natural gas prices go through the roof. in short there is a gas squeeze coming as storage is too low for even a normal winter. so far the weather in the north east is below normal. adding to the problem is a number of electricity generating stations coming on stream that are fueled by natural gas.gas should hit $10US/mcf in the usa so all gas heavy companies like berkeley are sitting pretty.
the reason berkeley has done poorly in the past is that it has not delivered up to estimates; it has been somewhat secretive in explaining what is going on with it's new drilling and finally it had sold lots of contract gas at much lower than latest spot prices ( probably due to lending bank requirements).
the last issue will quickly rectify itself as most of its old gas contracts will run out in a matter of weeks. as berkley is over 70% gas, a cash flow bonanza is coming even if it's drilling is mediocre. fortunately it is drilling in several hot spots so i have to believe one or two of these will be successful.in summary, i believe berkeley is on an uptrend.how high it will go and when is anybody's guess.