Brigham Exploration Company (BEXP)

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Frank Navin

Summary: Brigham Exploration Company is an independent exploration, development and production company that uses three dimensional (3D) seismic imaging, drilling and completion technologies to explore for and develop domestic onshore oil and natural gas reserves. The Company's exploration and development activities are concentrated in four provinces: the Onshore Gulf Coast, the Anadarko Basin, the Rocky Mountains and West Texas. The Company has accumulated acreage positions in the Williston and Powder River Basins. Operations within these two basins are included in and constitute the bulk of its activity in its Rocky Mountains province. At December 31, 2007, the Company has estimated proved reserves of 140.2 billion cubic feet equivalent (Bcfe). Approximately 76% of its proved reserves are natural gas and it operates approximately 61% of proved reserves. The Company's average daily production during the year ended December 31, 2007, was 41.6 million cubic feet equivalent (mcfe).

Interest and Media Exposure : Brigham Exploration saw tremendous gains during the second quarter of 2008. The stock skyrocketed from $6.00 on April 1 to its 52 week high of $18.39 on June 18. The stock has closely followed the huge run in natural gas prices and can be viewed as a speculative wildcat play. The stock was first featured on Jim Cramer's Mad Money show when a caller inquired about the stock. Cramer came back a couple weeks later and endorsed the company during his week-long segment on oil and natural gas.

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