Bankers Pet Hedges Oil With $80.00 ppb short contracts

BANKERS PETROLEUM IMPLEMENTS 2012 OIL HEDGING CONTRACTS

prnews 4,000 BOPD AT US$80 PER BARREL FLOOR PRICE

CALGARY, Feb. 25 /PRNewswire/ - Bankers Petroleum Ltd. (the "Company") announced today the purchase of put contracts representing 4,000 barrels of oil per day at US$80 per barrel of Dated Brent for the period January 1, 2012 to December 31, 2012. This volume represents approximately 20% of the Company's forecasted 2012 average production in Albania. The hedge is strictly financial and does not take into account the Patos-Marinza crude price differential to Dated Brent.


With the recent spike in oil prices due to the current geopolitical situation in the Middle East and North Africa, and with our Patos-Marinza oil marketing agreements priced relative to the Brent oil price, the Company elected to implement this relatively inexpensive strategy to start in 2012 as a form of insurance to have downside protection below US$80 per barrel, on a percentage of our production representative of field declines, while continuing full upside participation above the strike price on all 2012 production. If oil prices drop below US$80 per barrel, these hedge contracts and the resulting production cash flow would generate sufficient revenue to fund a significant portion of our capital program in 2012 and service any outstanding debt during that period.


Additional oil hedging contracts might be considered in the future as part of Bankers overall risk management strategy.


About Bankers Petroleum Ltd.

Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and production company focused on developing large oil and gas reserves. In Albania, Bankers operates and has the full rights to develop the Patos-Marinza heavy oilfield and has a 100% interest in the Kucova oilfield, and a 100% interest in Exploration Block F. Bankers' shares are traded on the Toronto Stock Exchange and the AIM Market in London, England under the stock symbol BNK.


SOURCE Bankers Petroleum Ltd

Josef Schachter Says ...DEE Worth $5.00+ On A Take Over

Delphi Energy Corp Com Npv (DEE.TO)

2.210 +0.120 (+5.74%) Friday, Feb 18th, 2011

Detailed Opinion

Show Signal Strength and Direction

Composite Indicators	Signal
TrendSpotter	Buy
Short Term Indicators
7 Day Average Directional Indicator	Buy
10 - 8 Day Moving Average Hilo Channel	Buy
20 Day Moving Average vs Price	Buy
20 - 50 Day MACD Oscillator			Sell
20 Day Bollinger Bands	Buy
Short Term Indicators Average: 60% Buy
20-Day Average Volume - 991,952
Medium Term Indicators
40 Day Commodity Channel Index	Buy
50 Day Moving Average vs Price	Buy
20 - 100 Day MACD Oscillator			Sell
50 Day Parabolic Time/Price			Sell
Medium Term Indicators Average: 0% Hold
50-Day Average Volume - 734,127
Long Term Indicators
60 Day Commodity Channel Index		Hold
100 Day Moving Average vs Price	Buy
50 - 100 Day MACD Oscillator			Sell
Long Term Indicators Average: 0% Hold
100-Day Average Volume - 486,868
Overall Average: 32% Buy
Price Support Pivot Point Resistance 2.210 2.083 2.183 2.283

Josef Schachter On BNN picks DEE:TSX

says ... DEE Worth $5.00+ On A Take Over

See his appearance on Bnn today:

www.bnn.ca

February 22, 2011

Josef Schachter
President, Schachter Asset Management

Focus:
Oil and gas stocks

Top Picks:
DELPHI ENERGY (DEE-T)
NIKO RESOURCES (NKO-T)
WESTERNZAGROS RESOURCE (WZR-X)

Delphi Energy Corp
Symbol	C : DEE
Shares Issued	112,825,298
Close 2011-02-22	C$ 2.21

Insider Activity:

Delphi Energy Corp. (DEE)						As of February 21st, 2011
Filing Date	Transaction Date	Insider Name	Ownership Type	Securities	Nature of transaction	# or value acquired or disposed of	Unit Price
Jan 28/11	Jan 24/11	Kaluza, Michael Sam	Direct Ownership	Common Shares	10 - Disposition in the public market	-65,000	$2.120
Jan 28/11	Jan 24/11	Kaluza, Michael Sam	Direct Ownership	Common Shares	51 - Exercise of options	65,000	$0.650
Jan 28/11	Jan 24/11	Kaluza, Michael Sam	Direct Ownership	Options	51 - Exercise of options	-65,000	$0.650
Jan 19/11	Jan 19/11	Reid, David James	Direct Ownership	Common Shares	30 - Acquisition under a purchase/ownership plan	2,893	$2.230
Jan 19/11	Jan 19/11	Kohlhammer, Brian	Direct Ownership	Common Shares	30 - Acquisition under a purchase/ownership plan	2,432	$2.230
Jan 19/11	Jan 19/11	Batteke, Hugo	Direct Ownership	Common Shares	30 - Acquisition under a purchase/ownership plan	2,000	$2.230
Jan 19/11	Jan 19/11	Angelidis, Tony	Direct Ownership	Common Shares	30 - Acquisition under a purchase/ownership plan	2,305	$2.230
Jan 19/11	Jan 19/11	Kaluza, Michael Sam	Direct Ownership	Common Shares	30 - Acquisition under a purchase/ownership plan	2,432	$2.230
Jan 19/11	Jan 19/11	Hume, Rod Allan	Direct Ownership	Common Shares	30 - Acquisition under a purchase/ownership plan	2,000	$2.230
Jan 19/11	Jan 19/11	Galvin, Michael	Direct Ownership	Common Shares	30 - Acquisition under a purchase/ownership plan	1,675	$2.230

Delphi tests Wapiti wells between 2.6 and 8.0 mmcf/d

2011-02-17 04:56 ET - News Release

Mr. David Reid reports

DELPHI ENERGY WINTER PROGRAM DELIVERING RESULTS

Delphi Energy Corp. has provided the following update to its continuing operations.

Operations update

Delphi's active winter program will result in 17 horizontal and vertical wells (11.8 net) targeting light oil and liquids-rich natural gas across the core areas of Wapiti/Gold Creek, Bigstone and Hythe. Thirteen wells (9.4 net) have been drilled and are in various stages of completion with the remaining four wells (2.4 net) to be finished drilling prior to spring breakup. The three wells tested to date are meeting or exceeding expectations, and early well data indicate the remaining 14 wells in the program will also be successful.

Highlights include:

• At Wapiti/Gold Creek, the company has drilled and tested three vertical natural gas wells (2.6 net) with gross initial test rates ranging from 2.6 million to eight million cubic feet per day of liquids-rich natural gas. An additional five wells (4.5 net) are in the process of being drilled, completed and tied in.
• At Bigstone, the company has drilled, completed and is currently testing four horizontal Cardium oil wells (0.7 net). An additional horizontal Cardium oil well (0.6 net) is currently drilling.
• At Hythe, the company has drilled and is in the process of completing two horizontal Doe Creek oil wells (1.4 net). An additional horizontal Doe Creek oil well (1.0 net) will be drilled, completed and tied in prior to spring breakup.

Wapiti/Gold Creek

Nikanassin liquids-rich natural gas program

At Wapiti/Gold Creek, the winter program is well under way with plans to drill eight vertical wells (7.1 net) prior to spring breakup. The program is targeting natural gas in the Nikanassin and additional uphole Cretaceous intervals that have liquids content of up to 120 barrels per million cubic feet of gas resulting in a production stream that is 46-per-cent high netback liquids. The wells being drilled are a combination of offsets to previous successes and step-out locations that will generate further low-risk drilling inventory.

To date, three wells (2.6 net) have been drilled and tested with test rates ranging from 2.6 million to eight million cubic feet per day and an average liquids content of 80 barrels per million cubic feet of gas resulting in an average rate of 1,050 barrels of oil equivalent per day per well. Three additional wells (2.7 net) have been drilled and are in various stages of completion, and two more wells (1.8 net) are currently drilling and will reach total depth prior to the end of February with completions, equipping and tie-in operations planned for March. Although demand for completion services remains high, the company has been able to secure the required services with minimal delay and expects to complete all planned activities prior to spring breakup.

Based on the GLJ independent engineering report for the year ending Dec. 31, 2010, average gross proved plus probable reserves of the undeveloped locations in the Wapiti reserve report are approximately 475,000 barrels of oil equivalent (boe) per well resulting in robust project finding and development costs below $6.00 per boe. The GLJ reserve assignments for the area are based on one-eighth to one-quarter of a section drainage area per well. Full development in the area may require four to eight wells per section. The company has regulatory approval to drill up to four wells per section in the Wapiti/Gold Creek area, and continued success is generating an expanding inventory of low-risk, high-return drilling opportunities on the 78 sections (48 net sections) of land owned by the company.

The company is forecasting production from the area to increase to approximately 2,800 boe per day (45 per cent NGL (natural gas liquids)) by the end of 2011, up from 300 boe per day in late 2009 when the area assets were acquired.

Bigstone

Cardium light oil program

At Bigstone the company continues to exploit the Cardium light oil play with five horizontal wells (1.3 net) utilizing multistage fracture technology planned for the winter program. The company has drilled and completed four horizontal wells (0.7 net) with flowback of completion fluid continuing. Flowing conditions during cleanup operations indicate these wells should have similar rates to Delphi's offsetting horizontal wells discussed in the operational update of Dec. 15, 2010. One additional well (0.6 net) is currently drilling and will reach total depth prior to the end of February with completion, equipping and tie-in operations planned for March.

The company is continuing to license offsetting horizontal wells in preparation for additional drilling in the second half of 2011 and beyond.

Hythe

Doe Creek light oil program

As part of the winter program the company will drill three horizontal wells (2.4 net) targeting light oil in the Doe Creek interval bringing Delphi's total Doe Creek horizontal oil well count to 11 wells (8.4 net). Delphi has drilled two wells (1.4 net) and is awaiting completion services for the planned multistage fracture stimulations. One well (1.0 net) remains to be drilled, completed and tied in prior to spring breakup.

Based on continued success and favourable netbacks associated with the Doe Creek opportunities, the company is continuing to license offsetting horizontal wells in preparation for additional drilling in the second half of 2011.

Nikanassin and Cretaceous natural gas program

In addition, the company has drilled one vertical well (1.0 net) targeting the Nikanassin and multiple uphole Cretaceous intervals. Based on electric logs the well has several potential gas zones and initial completion operations are continuing in the Nikanassin interval. Multiple locations have been identified on offsetting company lands. In aggregate, the company has 256 sections (183 net sections) of land in the Hythe area.

The company looks forward to providing further updates as the winter drilling program progresses.

Hedging

As in prior years, the company's risk-management program provides stability to the company's cash flow, ensuring a defined level of capital spending. The company now has approximately 52 per cent of its natural gas production for 2011 hedged at an average minimum floor price of $4.93 per million cubic feet. The company has the hedges shown in the associated table in place.

                                          HEDGES IN PLACE                                January to March     April to September         October to December                                            2011                   2011                        2011 Volume hedged (million cubic feet per day)                       16.1                   23.5                        17.2 Price (dollars per thousand cubic feet)                               5.24                   4.77                        4.90 Percentage hedged (i)                      41%                    60%                         44%  (i) Based on 39 million cubic feet per day.   

David J. Reid, president and chief executive officer of Delphi Energy, is scheduled to appear at the National Bank financial junior energy conference in Toronto on Thursday, Feb. 17, 2011. A copy of the presentation by Mr. Reid will be available for viewing on Delphi's website following the event.

We seek Safe Harbor.

Delphi Energy's year-end proved reserves at 22.72 mmboe

2011-02-09 07:45 ET - News Release

Mr. David Reid reports

DELPHI ENERGY REPORTS 10 MILLION BOE IN RESERVE ADDITIONS

Delphi Energy Corp. has released its crude oil and natural gas reserves information for the year ended Dec. 31, 2010.

2010 highlights:

• Increased total proved reserves by 26 per cent to 22.7 million barrels of oil equivalent and total proved plus probable reserves by 26 per cent to 34.5 million barrels of oil equivalent compared with 2009. Total proved plus probable reserves have doubled over the past three years;
• Increased total proved plus probable crude oil and natural gas liquids reserves by 89 per cent and total proved plus probable natural gas reserves by 17 per cent compared with 2009;
• Increased total proved plus probable reserves per share by 13 per cent in 2010;
• Added 10.1 million barrels of oil equivalent of total proved plus probable reserves (net of revisions and dispositions) in 2010, replacing 2010 production by 342 per cent;
• Achieved finding, development and acquisition costs of $14.94 per barrel of oil equivalent for total proved plus probable reserves in 2010 and average FD&A costs over the past three years of $14.77 per barrel of oil equivalent for total proved plus probable reserves;
• Achieved record production during the fourth quarter of 8,539 barrels of oil equivalent per day, representing a 24-per-cent increase over the comparative quarter in 2009. Average production for 2010 increased 18 per cent to 8,086 barrels of oil equivalent per day, while production per share increased 6 per cent;
• Increased proved plus probable reserve life index to 11.7 years in 2010 compared with 11.0 years in 2009;
• Increased net undeveloped land to 244,475 net acres, a 42-per-cent increase over 2009.

                           SUMMARY                                                 At Dec. 31,                                        2010           2009         Proved producing (mboe)              13,944         12,278              Total proved (mboe)                  22,721         18,018              Proved plus probable (mboe)          34,521         27,391              Proved plus probable reserve                                                 life index (years)                     11.7           11.0               Proved plus probable reserve                                                 replacement ratio                       3.4            3.2               Proved plus probable reserves                                                per 1,000 shares (boe)                306.0          270.8              Total proved FD&A including                                                  future development costs                                                    ($/boe)                               18.10          12.06             Proved plus probable FD&A                                                    including FDC ($/boe)                 14.94           9.21              Operating netback ($/boe)             24.36          24.10               Proved plus probable recycle                                                 ratio                                   1.6            2.6            Undeveloped land (net acres)        244,475        172,209  Undeveloped land value  ($000s)                              27,650         16,695              

Reserves summary

GLJ Petroleum Consultants Ltd., the company's independent petroleum engineering firm, has evaluated Delphi's crude oil, natural gas and natural gas liquids reserves as at Dec. 31, 2010, and prepared a reserves report in accordance with National Instrument 51-101 "Standards of Disclosure for Oil and Gas Activities" and the "Canadian Oil and Gas Evaluation Handbook."

      SUMMARY INFORMATION DETAILED IN THE GLJ RESERVES REPORT AT               DEC. 31, 2010, AS COMPARED WITH DEC. 31, 2009                                      Dec. 31, 2010                                      Oil and              Dec. 31, 2009                                                   Gas     NGLs     Total   % of     Total Reserves(1)               (mcf)   (mbbl) (mboe)(2)   P+P  (mboe)(2)  Proved Producing               68,544    2,520    13,944     40    12,278 Non-producing           13,161      663     2,857      8     2,173 Undeveloped             26,483    1,507     5,920     17     3,567                        -------    -----    ------     --    ------ Total proved           108,188    4,690    22,721     66    18,018                        -------    -----    ------     --    ------ Probable                57,579    2,203    11,800     34     9,373                        -------    -----    ------     --    ------ Total proved plus probable               165,767    6,893    34,521    100    27,391                        -------    -----    ------     --    ------ Notes:  (1) Delphi's reserves represent the operated and non-operated  working interest share of reserves before deduction of royalties  and include any royalty interests of the company.  (2) Oil equivalent amounts have been calculated using a conversion  rate of 6,000 cubic feet of natural gas to one barrel of oil (6:1).  (3) Table numbers have been rounded.

Net present value of reserves

In 2010, the reserve additions of 10.1 million barrels of oil equivalent largely offset the change in GLJ's forecast natural gas prices as of Jan. 1, 2011, as compared with Jan. 1, 2010.

     ESTIMATED FUTURE NET REVENUES ASSOCIATED WITH DELPHI'S RESERVES       AT DEC. 31, 2010, BASED ON THE GLJ JAN. 1, 2011, PRICE FORECAST                                 ($000s)(1)                                      Future net revenues before income taxes                                                     discounted at a rate of:                                             0%            10%            15% Proved                                                                       Producing                             324,704        207,834        177,038  Non-producing                          68,852         32,957         25,942  Undeveloped                           121,867         48,808         32,861                                        -------        -------        ------- Total proved                          515,423        289,599        235,841                                        -------        -------        ------- Probable                              318,641        109,855         75,933                                        -------        -------        ------- Total proved plus probable            834,064        399,454        311,774                                        -------        -------        ------- Note:  (1) The estimated future net revenues are before the deduction of estimated future site restoration costs but are reduced for estimated future abandonment costs for reserve wells and estimated capital for future development associated with the reserves.

                                RESERVES RECONCILIATION                                                                 Proved plus                                         Proved       Probable       probable                                          (mboe)         (mboe)         (mboe)  Reserves at Dec. 31, 2009              18,018          9,373         27,391  Extensions and improved                                                      recovery                                8,311          2,048         10,359  Technical (revisions)                    (183)           632            449  (Dispositions)                           (281)          (210)          (491) (Economic factors)                       (192)           (43)          (235) (Production)                           (2,952)             -         (2,952)                                       --------       --------       -------- Reserves at Dec. 31, 2010              22,721         11,800         34,521                                        --------       --------       -------- 

                       FINDING AND DEVELOPMENT COSTS                                              2010               2008-2010                                                       Proved              Proved                                          Total      plus     Total      plus  Capital ($000s)                        proved  probable    proved  probable  Exploration and development  expenditures                          106,057   106,057   216,782   216,782  Change in FDC related to E&D                                                additions                              32,878    46,046    60,307    90,552  Change in FDC related to                                                    acquisitions and dispositions (loss)     (177)   (1,257)    7,965     6,536                                       --------- --------- --------- --------- Total on stream costs                 138,758   150,846   285,054   313,870  Acquisitions                               19        19    85,026    85,026  (Dispositions)                           (248)     (248)  (29,416)  (29,416)                                      --------- --------- --------- --------- Total capital invested                138,529   150,617   340,664   369,480                                       --------- --------- --------- --------- Finding and development costs                                                ($/boe) E&D, excluding FDC                      13.36     10.03     14.14     11.05  E&D, including change in FDC                                                related to E&D additions                17.51     14.39     18.08     15.67  Exploration, development,                                                   acquisitions and dispositions,                                             including total change in FDC           18.10     14.94     17.81     14.77                                       --------- --------- --------- --------- 

Total exploration and development costs incurred in the most recent financial year and the change during that year in estimated future development costs generally will not reflect the total cost of reserve additions in that year.

Acreage summary

The company significantly increased its landholdings over the past year primarily through Crown land sales. Undeveloped landholdings increased to 244,475 net acres in 2010, a 42-per-cent increase over 2009. Total net land increased 26 per cent to 349,177 net acres. Delphi has regulatory approval to drill up to four natural gas wells per pool per section on the company's developed and undeveloped lands at its three core properties of Bigstone, Hythe and Wapiti/Gold Creek.

Net asset value

  ESTIMATED NET ASSET VALUE OF THE COMPANY AT DEC. 31, 2010,    CALCULATED USING BEFORE TAX, NET PRESENT VALUE OF RESERVES                   DISCOUNTED AT 10 PER CENT                 ($000s except per share data)                                                                              2010           2009 Discounted value of proved plus probable reserves(1)                  399,454        392,265 Undeveloped land(2)                    27,650         16,695 Mark-to-market value of hedging contracts                                 650          3,943 In-the-money option proceeds(3)         9,248          4,149                                     ----------     ---------- Total asset value                     437,002        417,052                                     ----------     ---------- (Bank debt plus working capital deficiency) (unaudited)              (108,054)       (92,467)                                     ----------     ---------- Net asset value                       328,948        324,585                                     ----------     ---------- Net asset value per share                2.75           3.09                                     ----------     ---------- Notes: (1) Before tax and reclamation costs. The company estimates  it has approximately $270-million of tax deductions available  to offset future taxable income.  (2) Undeveloped land is based on the estimated land value in  Seaton-Jordan & Associates Ltd. land valuation report.  (3) In-the-money option proceeds are based on the closing  Dec. 31, 2010, share price of $2.17. 

Delphi anticipates releasing its audited financial statements for the year ended Dec. 31, 2010, on or about March 16, 2011, and its annual information form by March 31, 2011, which will include all required National Instrument 51-101 reserves disclosure.

We seek Safe Harbor.

Josef Schachter

President, Schachter Asset Management
Focus: Oil and gas stocks

www.bnn.ca

Schachter Asset Management Inc. provides oil and gas research coverage for small to mid-cap energy companies to Maison Placements Canada for their institutional clients. The principal of SAMI has over 35 years of experience in investment management. Before he set up his own investment advisory business, Mr. Schachter was Richardson Greenshields' Market Strategist from 1991-1996 and was also a Director of RGCL and a member of its Investment Policy Committee. He holds the Chartered Financial Analyst and Certified Management Accountant designations, and is a past Chairman of the Canadian Council of Financial Analysts.

Josef is a frequent guest on BNN TV and CBC Business World. He is a frequent speaker at corporate and investor conferences such as the World Outlook Financial Forum. He is regularly quoted in news and financial reporting publications and was awarded the Business Edge's "Stock Picker of the Year" in 2003, 2004 and 2007.

Short History

		Symbol	Report Date	Volume	Change
		DEE - T	2011-02-15	9,510	-2,710
		DEE - T	2011-01-31	12,220	173
		DEE - T	2011-01-15	12,047	-2,955
		DEE - T	2010-12-31	15,002	-54,426
		DEE - T	2010-12-15	69,428	-75,276

House Positions for C:DEE from 20110222 to 20110222

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
82 Stifel Nicholas	83,400	182,646	2.19	0			83,400	-182,646
10 FirstEnergy	70,000	153,300	2.19	0			70,000	-153,300
85 Scotia	97,200	218,142	2.244	55,600	124,030	2.231	41,600	-94,112
9 BMO Nesbitt	72,950	161,988	2.221	32,230	71,538	2.22	40,720	-90,450
2 RBC	31,095	69,873	2.247	3,605	8,069	2.238	27,490	-61,804
1 Anonymous	147,200	328,369	2.231	121,500	271,588	2.235	25,700	-56,781
89 Raymond James	24,900	55,625	2.234	0			24,900	-55,625
124 Questrade	30,000	67,910	2.264	8,000	17,715	2.214	22,000	-50,195
36 Latimer	20,000	44,600	2.23	0			20,000	-44,600
25 Odlum	19,900	44,576	2.24	0			19,900	-44,576
99 Jitney	22,500	50,315	2.236	12,400	27,584	2.225	10,100	-22,731
15 UBS	10,000	22,500	2.25	300	660	2.20	9,700	-21,840
17 Integral	9,600	21,600	2.25	0			9,600	-21,600
19 Desjardins	10,500	23,575	2.245	3,200	7,188	2.246	7,300	-16,387
6 Union	5,000	11,200	2.24	0			5,000	-11,200
81 HSBC	2,600	5,838	2.245	0			2,600	-5,838
58 Qtrade	375	825	2.20	0			375	-825
123 Citigroup	211	472	2.237	0			211	-472
64 Octagon	10,000	22,300	2.23	10,000	22,400	2.24	0	100
68 Leede	700	1,540	2.20	700	1,561	2.23	0	21
57 Interactive	0			136	307	2.257	-136	307
132 Acker Finley	201	450	2.239	361	803	2.224	-160	353
80 National Bank	28,250	63,323	2.242	32,430	72,824	2.246	-4,180	9,501
12 Wellington	0			8,400	19,068	2.27	-8,400	19,068
101 Newedge	0			10,900	24,317	2.231	-10,900	24,317
7 TD Sec	183,800	410,565	2.234	196,100	434,446	2.215	-12,300	23,881
33 Canaccord	3,780	8,542	2.26	17,700	39,315	2.221	-13,920	30,773
71 Brant	5,000	10,950	2.19	25,200	56,412	2.239	-20,200	45,462
3 AltaCorp	0			24,900	55,765	2.24	-24,900	55,765
27 Dundee	0			71,600	158,884	2.219	-71,600	158,884
90 Barclays	0			74,800	166,461	2.225	-74,800	166,461
79 CIBC	86,300	192,791	2.234	265,400	592,880	2.234	-179,100	400,089
TOTAL	975,462	2,173,815	2.228	975,462	2,173,815	2.228	0	0

Experts who have talked about Delphi Energy Corp.

Comment: Delphi has a dominant land position in Hythe (Alberta) that consists of multi-zone targets, and it has more than doubled production from (September, 2007).

PAST TOP PICK	2.100	Andrew Cook	(A Top Pick Jan 20/10. Up 6%.) Didn’t perform as well as he would have liked, so sold his holdings.	2011-01-12
HOLD	2.120	Eric Nuttall	Likes it, but he cut it down. Management team is very good. It is Natural Gas plays that produce liquids. Under leveraged balance sheet. 75% natural gas exposure with 25% hedged. Stock is capped out at $2.50 by price of Natural Gas.	2010-12-14
Comment	2.550	Joanne A. Hruska, CFA	Gas weighted. Valuations are reasonable compared to its peers. Good team. You have to decide whether you like gas or not. She can see another 30%.	2010-09-13
BUY	2.430	Mason Granger	Hedged about 50% of their gas production and have a pretty good inventory ahead of them.	2010-08-31
PAST TOP PICK	2.380	Eric Nuttall	(Top Pick Mar 24/10, Down 16%) Very comfortable with this one. One of his larger holdings.

Close Prices Last 3 Months

Price/volumes not adjusted for restructures

Date	Ex	Sym	Open	High	Low	Close	Chg	Vol	#Tr	Bid	Ask
2011-02-18	T	DEE	2.12	2.22	2.12	2.21	0.12	4,438,617	1,040	2.19	2.21
2011-02-17	T	DEE	2.09	2.17	2.08	2.09	0.04	3,008,883	720	2.09	2.10
2011-02-16	T	DEE	2.10	2.10	2.04	2.05	-0.04	344,978	372	2.05	2.08
2011-02-15	T	DEE	2.13	2.13	2.07	2.09	-0.01	1,343,536	349	2.08	2.10
2011-02-14	T	DEE	2.12	2.16	2.10	2.10	-0.02	392,184	218	2.10	2.11
2011-02-11	T	DEE	2.16	2.17	2.11	2.12	-0.03	683,911	485	2.13	2.15
2011-02-10	T	DEE	2.22	2.22	2.13	2.15	-0.06	1,196,601	509	2.13	2.15
2011-02-09	T	DEE	2.08	2.23	2.08	2.21	0.13	2,751,434	667	2.21	2.22
2011-02-08	T	DEE	2.10	2.10	2.07	2.08	-0.02	782,412	223	2.07	2.08
2011-02-07	T	DEE	2.15	2.15	2.10	2.10	-0.03	570,175	305	2.10	2.13
2011-02-04	T	DEE	2.15	2.18	2.12	2.13	-0.02	513,100	378	2.13	2.15
2011-02-03	T	DEE	2.15	2.20	2.15	2.15	-0.01	188,850	224	2.15	2.17
2011-02-02	T	DEE	2.11	2.21	2.10	2.16	0.07	633,454	505	2.15	2.18
2011-02-01	T	DEE	2.05	2.12	2.05	2.09	0.04	1,041,293	258	2.09	2.12
2011-01-31	T	DEE	2.11	2.11	2.04	2.05	-0.07	1,155,132	353	2.05	2.06
2011-01-28	T	DEE	2.02	2.12	2.02	2.12	0.10	352,808	245	2.10	2.12
2011-01-27	T	DEE	2.04	2.04	2.02	2.02	-0.01	181,397	119	2.02	2.03
2011-01-26	T	DEE	2.04	2.05	2.03	2.03	-0.02	1,100,990	168	2.03	2.04
2011-01-25	T	DEE	2.08	2.08	2.04	2.05	-0.02	125,266	110	2.04	2.06
2011-01-24	T	DEE	2.08	2.09	2.06	2.07	-0.01	75,561	71	2.06	2.07
2011-01-21	T	DEE	2.07	2.10	2.07	2.08	0.01	206,271	295	2.07	2.09
2011-01-20	T	DEE	2.10	2.10	2.06	2.07	-0.03	360,446	230	2.06	2.08
2011-01-19	T	DEE	2.10	2.10	2.08	2.10	-0.01	487,170	273	2.08	2.10
2011-01-18	T	DEE	2.10	2.11	2.09	2.11	-0.01	1,582,899	696	2.10	2.11
2011-01-17	T	DEE	2.07	2.12	2.06	2.12	0.05	476,219	259	2.10	2.12
2011-01-14	T	DEE	2.07	2.08	2.06	2.07	0.00	3,629,273	408	2.06	2.07
2011-01-13	T	DEE	2.10	2.12	2.07	2.07	-0.03	474,282	282	2.07	2.09
2011-01-12	T	DEE	2.13	2.13	2.09	2.10	-0.02	550,205	424	2.10	2.12
2011-01-11	T	DEE	2.16	2.16	2.10	2.12	-0.04	610,828	492	2.11	2.12
2011-01-10	T	DEE	2.17	2.17	2.13	2.16	-0.01	2,160,659	312	2.15	2.16
2011-01-07	T	DEE	2.19	2.19	2.15	2.17	-0.01	152,850	159	2.16	2.17
2011-01-06	T	DEE	2.22	2.22	2.15	2.18	-0.01	132,938	147	2.17	2.20
2011-01-05	T	DEE	2.17	2.19	2.15	2.19	0.02	120,170	146	2.17	2.20
2011-01-04	T	DEE	2.19	2.23	2.17	2.17	0.00	122,616	185	2.17	2.20
2010-12-31	T	DEE	2.13	2.17	2.13	2.17	0.02	24,050	39	2.16	2.17
2010-12-30	T	DEE	2.12	2.17	2.12	2.15	0.01	57,261	78	2.15	2.16
2010-12-29	T	DEE	2.16	2.18	2.13	2.14	-0.02	343,319	182	2.14	2.16
2010-12-24	T	DEE	2.12	2.17	2.11	2.16	0.04	284,569	79	2.14	2.16
2010-12-23	T	DEE	2.15	2.17	2.11	2.12	-0.03	339,966	159	2.12	2.13
2010-12-22	T	DEE	2.15	2.18	2.12	2.15	0.02	299,423	179	2.15	2.16
2010-12-21	T	DEE	2.08	2.14	2.07	2.13	0.04	220,782	251	2.12	2.14
2010-12-20	T	DEE	2.11	2.14	2.08	2.09	-0.03	316,998	430	2.09	2.10
2010-12-17	T	DEE	2.06	2.12	2.02	2.12	0.07	313,725	239	2.10	2.12
2010-12-16	T	DEE	2.04	2.13	1.99	2.05	0.03	962,882	707	2.04	2.06
2010-12-15	T	DEE	2.10	2.12	2.01	2.02	-0.10	571,489	530	2.02	2.04
2010-12-14	T	DEE	2.17	2.19	2.12	2.12	-0.07	995,852	324	2.12	2.13
2010-12-13	T	DEE	2.24	2.24	2.16	2.19	-0.05	464,377	475	2.18	2.19
2010-12-10	T	DEE	2.25	2.25	2.22	2.24	-0.02	336,473	128	2.23	2.24
2010-12-09	T	DEE	2.27	2.29	2.25	2.26	0.01	228,465	143	2.25	2.27
2010-12-08	T	DEE	2.25	2.30	2.25	2.25	-0.01	224,459	215	2.25	2.27
2010-12-07	T	DEE	2.25	2.28	2.23	2.26	0.02	657,514	350	2.25	2.27