1.POOR management.... look at xtxi.. they have been aggressive as a management team during these tough times.. ie. selling off assets meeting debt demands etc .. to keep themselves in a stronger position.AHD has been completely MISMANAGED..Hence, the new hires of executives the past 60 days...

2. AHD is imo planning to sell alot of equity and dilute shareholders shortly to help its liquidity crisis... if this is not done they could go out of business.

3. Natural gas demand is expected to stay low thru 2010..

4. one bright spot is there Marcellas shale project. It is a promising piece of real estate but thats much longer term.

My near term target for AHD is 2.50..its 50/50 whether they survive

good luck