Zeev's Turnips Patch-No Politics (ZEEV)

[cy esp]

Joe - I'm partial to Devon (my biggest position) as I worked for a company they acquired and I am somewhat familar with their management who I think is solid and their assests which are good. They are highly leveraged (lots of debt from acquisitions) and heavily gas which provides alot of stock price upside. They have hedged some of their production which locks in debt service but caps upside. I think about 40% is hedged, but my figures are several months out of date.

I also own CHK which is also leveraged and heavily gas. Don't trust their management as much, but the insiders have been buying heavily. Little gas is hedged. I see them as an excellent 2-12 month investment.

I own EOG which has little debt, lots of gas. Somewhat more expensive than DVN and CHK in terms of cashflow to stockprice. Little gas is hedged.

I have a number of friends working for Encana and they think highly of the company. I'm not buying ECA because of their extensive oil production and my expectation of falling oil prices.

I just bought a little XTO, they have an excellent rep, but I am not as familar with them.

Cy