We view the acquisition as positive - as we expect it to be accretive and it removes a large barrier to growth.

I'm not sure what prompted the move, but it certainly removes a barrier [to a buyout].

It would in my view be very strange, and that, by the way, was the reaction of a large part of the members.

Expect great things.

The Minden prospect originated this past summer through a large acreage acquisition from a major oil company and Cabot now controls 3,500 acres over the area. We are pleased with our initial results and will remain active in this area throughout 2006. On forty-acre spacing, the prospect has the potential for 80 plus locations.

In our view, the message that is emerging from buyers is that acquisition candidates are becoming too greedy. Prices are reaching unsustainable levels.