I think that analyst estimate was/is a joke. It already hit 8.00 just before the earnings release this past week. The stock got trounced because of the bottom line miss but nothing has changed in the fundamental outlook which is only getting much much stronger. Oil has been above $100.00 throughout this quarter so far. That fact, along with the increased production should drive this stock much higher and I am betting on a nice surprise in the next earnings release based on those two facts alone. Throw in the other two recently completed wells that they are holding back results on waiting until they have 30 day numbers and we could see even better numbers than already projected for the 4th Qtr or year end. To top that off, they are continuing their drilling operations and although I don't expect a home run on all of them, their success to date tells me they are competent and know what they are doing. My guess, if all this comes to pass would be a $10.00 number by year end and my bet is in shares.
Good judgment comes from experience, and a lot of that comes from bad judgment.
Will Rogers
