Wrap – Week Ended 12/12/08

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Last week the bounce in crude and a "not falling out of bed" broad market contributed to a nice rally in the energy names which continue to show signs of bottoming off the October lows. While the gas storage number stunk up the room, price takes care of price and you'll note the gas rig count is really starting to cliff dive.

In company news, we had a good score with our pre conference call (CHK) buys from the previous Friday and were able to pull the trigger on some 250% type gains and we acted on the strongest well results out of the Haynesville Shale by any player there so far by taking more calls in (HK).

The coming week will be dominated by Wednesday's OPEC decision; more on that in Monday's post. For a very good primer on the oil sands biz written by our resident industry expert click here.



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