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DewDiligence

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DewDiligence

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Wednesday, 10/12/2016 7:36:25 PM

Wednesday, October 12, 2016 7:36:25 PM

Post# of 29293
An E&P company—XOG—IPOd yesterday and traded +15% today(!):

http://www.wsj.com/articles/first-oil-gas-ipo-in-2-years-is-winner-1476307444

Extraction Oil & Gas Inc., a Denver-based exploration and production company, sold 33.3 million shares late Tuesday for $19 apiece. The shares ended their first day of trading up 15% at $21.85 on Wednesday, valuing the company at about $2.4 billion. The last time a U.S. oil and gas company went public the price of crude was more than double the $50 barrel level where oil has traded this week.

Extraction operates on about 224,000 acres in Colorado’s Wattenberg Field…

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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