It would be worth knowing more about Magnum Hunter if anyone knows much.
At first sight Magnum Hunter is a successful shale explorer/develper with experience in multiple shale fields in the US - so skills of value if they are really geared to work with strategic partners. I hoped to see some evidence of strategic partnerships or at least find some mention of interest in offshore expansion in strategy statements but couldn't find any (in this preso anyway).
There is mention of sale of non-core holdings (Eagle Ford) in light of the fact that they see better prospects in their other shale regions in the US. They state that they are "Aggressively pursuing in excess of $250 million of non -core asset sales to enhance our financial flexibility to focus capital on high return oil/liquids projects"
They are carrying a lot of debt. I think shareholders need more details on how the strategic partnership aims to work.
GLTAH - it is an interesting one.
NSE Price at posting:
11.5¢ Sentiment: None Disclosure: Not Held