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Wednesday, October 25, 2006

IPO Alert: Eagle Rock Energy

Eagle Rock Energy (EROC) priced 12.5 million shares at $19.00 in its IPO for today. It was supposed to be a range of $19.00 to $21.00, so that is on the low-end of the pricing. This had a huge underwriting group: Leaders were UBS, Goldman, and Lehman; and co-managers were A.G.Edwards, Credit Suisse, Raymond James, RBC Capital, and Wachovia.

There is expected to be a dividend yield of some 7%.

Eagle Rock Energy Partners, L.P. is a growth-oriented midstream energy partnership engaged in the business of gathering, compressing, treating, processing, transporting and selling natural gas and fractionating and transporting natural gas liquids in Texas and Louisiana; and it is based in Houston, Texas.

Jon C. Ogg
October 25, 2006

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