Good 2nd quarter for PCYO
Most recent conference call had several positives for PCYO.
-- Looks like Conoco will drill on Sky Ranch this year
--Increasing revenue is expected from selling water for fracking
--Sky Ranch development should be announced this year (I predict after the Aug. board meeting--just my opinion)
--Won't have to share tap fees with High Plains
--Huge Gaylord development 2 miles from Sky Ranch is certainly a positive
--A solid plan to increase farming revenue
--May be cash flow positive in second half of fiscal year
The only real negative that seems to keep the stock depressed concerns the lawsuit with High Plains. The company expects that all claims will be dismissed, but the judge granted more time for High Plains. I think it will be another positive announcement when the lawsuit is dismissed (again).
Personally, I just increased my position. I don't recall a time in the last few years when PCYO's near term looked so good while the stock is still so low.