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The Haynesville Is Hot

Toby Shute
July 1, 2008

It seems that not a day goes by without some news out of the smoking-hot Haynesville shale. The news flow is downright torrid for such an early-stage natural gas play. Of course, few investors had heard of companies like Goodrich Petroleum (NYSE: GDP  ) or GMX Resources (Nasdaq: GMXR  ) before Chesapeake Energy (NYSE: CHK  ) blew the story wide open back in March. You can hardly blame these companies for flaunting their stuff.

The most typical Haynesville announcement consists of a company updating its acreage position and/or resource potential in the play. Forest Oil (NYSE: FST  ) delivered exactly that sort of press release yesterday.

The Denver-based E&P reported some dreamy figures -- 90,000 net acres wit