added SFY 8/14 call options today with $10 strike. I am betting Swift will complete one of their two catalysts by August.
They have said they are in negotiations to sell their Central Louisiana acreage. They are hoping for $3-400million.
In addition, they are seeking a bigger JV partner to develop their Southern Eagleford shale property they call Fasken. They have drilled three dry gas wells with huge results. IP's for the three wells averaged 20million cubic feet per day!!! These are HUGE ngas wells. A JV partner would help Swift drill this prolific area faster. Swift doesn't want to add any more debt and they still want to drill their liquids rich Eagleford acreage so a JV makes sense to bring this dry gas production on quicker. The wells pay back very quickly, less than a year, so a Fasken JV would help cashflow and eps.
If either one happens, I expect SFY to jump a buck. If both happen, could allow a revaluation of the company to a more reasonable level.
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If the Commodities Boom is Over, I am just a Gold Bug headed for the Windshield of LIFE
