Technically, ASPN.OB sucks. But I don't see any change in their fundamentals. I guess it will bottom around $4.
Yes, they hedged some:
To manage commercial risk, we may use financial tools to hedge the price we will receive for our product. The primary purpose of hedging is to provide adequate return on our investments, grow our reserves while leaving as much commodity price upside as possible. During the period November 1, 2005 through March 31, 2006, we are contractually obligated to deliver 3,750 MMBTU per day to two of our natural gas purchasers as follows:
1,000 MMBTU/Day @ $8.43 per MMBTU 1,000 MMBTU/Day @ $8.40 per MMBTU 500 MMBTU/Day @ $9.49 per MMBTU 500 MMBTU/Day @ $9.48 per MMBTU 750 MMBTU/Day @ $11.02 per MMBTU
The average price received during the first six months of fiscal 2006 for our natural gas was approximately $8.85 per MMBTU.
