2008-08-23 — bloomberg.com
With oil prices beginning to recover lost ground -- crude oil for October delivery rose as high as $122.04 a barrel yesterday -- these managers may ultimately be proven right.
In the meantime, energy stocks are a bargain, with many trading at discounts of 20 percent to 40 percent to intrinsic net worth, said Tom Biracree, senior financial editor for IHS Herold Inc., a Norwalk, Connecticut, firm that provides data and analysis on the valuation, strategy and performance of oil and gas companies.
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