Sunday, June 08, 2014 5:44:20 PM
I know we've been waiting a long time but I sense from the statement in the 1Q 10Q that we are getting close. What I love about this stock is this. A 100 barrel a day well adds about $3M annually to our revenue. And that's not a big well. Plus if we drill we can hit several of those. Now lets look at a $5 share price. At a twenties multiple of EPS it would take about a .25 per share annual earnings. With about 12.5M shares outstanding to make .25 EPS we would need to have about $3.1M annual earnings. And we could get to $5 per share with just one quarter of about $800K profit if it is clear we can sustain that. I still believe we could get to $5 by the end of this year.
Now read this again from the 1Q 10Q: While we have made good progress to implement our business strategy over the past year, we believe our primary challenge over the next few months is to obtain additional financing to exploit existing drilling opportunities and to possibly acquire additional properties. We have sold some of our properties while retaining overriding royalty interests for future upside upon further development of the properties. In addition, we are in the process of reviewing several opportunities for the purchase of production and undeveloped oil and gas leases for future development. In order to purchase properties or begin substantive drilling activities we must obtain additional financing,
I think they think they are getting close to doing something. Perhaps more than just drilling some wells. So I'm excited and can't wait for GOOD news.
Hey RCD.
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