http://www.greatfallstribune.com/apps/pbcs.dll/article?AID=/20080617/OPINION01/806170305

http://www.cnbc.com/id/23678693/

http://seekingalpha.com/article/68748-cramer-on-bear-stearns-march-11-stick-around

I’ll be the first to agree that Cramer can get a bit out of control on his lightning recommendations… however, I’d like to clarify a couple of points that are fairly relevant to this discussion.

1. Cramer actually never recommended Bear Stearns before it collapsed… he actually predicted it’s collapse one week prior to the Fed & JP Morgan bailout when the CEO of Bear Stearns was claiming their were no liquidity problems.

2. If any of you have analyzed the fundamentals of Northern Oil & Gas, you will see they have no income. Further analysis will show that the majority of the insiders are fairly Inexperienced which is a modest term in this case. Brigham Exploration is allegedly drilling for NOG, however,NOG has received no real income or revenue from any of their “Mineral Leases”. I would caution anyone on investing in a company with no revenue and no income. NOG was actually created off the back of a “Blank Check Company”, for “tax purposes” which should raise a few eyebrows. Furthermore, the so called “Google of Bakken” has experienced consistent insider sales that raise further red flags. , I almost dumped some spec $ into this play until I uncovered far too many of these abnormalities, Buyer beware…. wait and see some real income before you bite on any Bakken play. As for BEXP, I think Continental, EOG and Whiting are all great plays, EOG especially for their size and experience.

The SL 18826 #1 encountered approximately 100 feet of apparent Miocene pay in four intervals at depths of between 7,140 and 7,680 feet. Completion operations are underway and production to sales is expected in August.

Brigham expects to commence its next two wells in its Southern Louisiana joint venture with Clayton Williams Energy Inc. (NasdaqGM:CWEI – News) in the next several weeks. Brigham retains a 50% working interest in all joint venture wells with Clayton Williams Energy Inc. also retaining a 50% working interest. The SL 19312 #1 and SL 19054 #1 will also target Miocene objectives at depths of 9,300 and 7,600 feet, respectively.

Bud Brigham, the Chairman, President and CEO, stated, “We’ve been looking forward to drilling these outstanding prospects with Clayton Williams Energy Inc. This high quality inventory leverages seismic amplitudes and other attributes to effectively reduce drilling risks. The results for the first well, drilled in the Main Pass area, have exceeded our expectations with excellent permeabilities and apparent porosities as high as 30%. We expect this well to be a significant producer which will positively impact our production in the third and fourth quarters.”