It's rare to hear a chief executive of a corporation swear on a conference call with analysts and investors. But Exco Resources Inc. (NYSE:XCO) CEO Doug Miller is ... exceedingly voluble on the subject of taking his Dallas oil and gas explorer private.

On Wednesday, the company held a conference call to talk about its third-quarter earnings. But during the Q&A session, the talk was dominated by Miller's $20.50 per share offer, which amounts to $4.4 billion and may include shareholders Oaktree Capital Management LP, Ares Management LLC and Dallas billionaire T. Boone Pickens.

Miller delivered quite a performance. He cursed ("We went around all last summer trying to attract interest, but nobody gave a sh*t so I decided it was time to buy," he said), berated a caller who asked about the debt structure of the privatized company ("You're making some assumptions that you shouldn't be making. Wait to see the structure until you spank me," noting it would be debt-light), complained about the timing of the deal ("It depends on how long the goddamn lawyers take," he said, estimating it would be at least six months) and was asked how Exco would be better off as a private company ("I wouldn't have this call," he joked, but added that being private would give him more flexibility on drilling).

Overall, Miller emphasized that the deal wasn't a bet on natural gas prices (he thinks they will remain low for the next 12 to 18 months) but on the company's assets and management. "It's an opportunity to get private and make some acquisitions," he said, noting the company was looking in the Haynesville and Marcellus Shale regions for deals. As for another company making an offer, he said, "Tell them to come on. If there's a higher bid, they'll take it," referring to Ares, Oaktree and Pickens.

Moody's Investors Service says there's a small chance it might happen. "A more highly rated entity may be willing to pay a premium to gain access to Exco's large natural gas asset base," it wrote in a report Tuesday.

Jones Day said Thursday it's counseling the company's special committee on the bid, including Lyle Ganske, James Dougherty, Mark Betzen and Jeff Schlegel, along with Kirkland & Ellis LLP's Tom Christopher. Financial advisers haven't been hired yet.

In the end, Miller should prevail, especially since he's taken companies private twice before -- once with Exco and once with Coda Energy. When asked if he thought he could get the deal done, Miller responded, "I wouldn't bet against it."