McMoon, thanks for that link to the quarterly report that came out this morning. I took a quick read and it is mostly old stuff with the exception of the new quarterly numbers and new information on the drilling in the Utica Shale. The Utica info really got my attention.
Here is the new stuff about the Utica from today's quarterly report:
"Utica Shale–Eastern Ohio
In Ohio, the initial due diligence and cure periods have concluded with the Company and its operating partner purchasing the initial 40 acre drill site for the vertical test well. The permit has been issued for a vertical test of approximately 7,800 feet. At this time construction has begun on the drill site and we anticipate the drilling to begin September 2014. 1st NRG Corp holds a 20% working interest in the development and is carried in the vertical test well."
I know a lot of folks have been waiting for the drilling in the Utica and it looks like it may finally be likely to happen within the next 45 days. This confirms that they have a permit, which is a huge indicator, and that construction on the site has begun, which is another huge indicator.
This is purely a guess, but I would say that confirmation that drilling has begun will push up the current share price to $5 a share, which is comparable to $.00025 from before the split.
Then if they hit oil and get decent production, I would be looking for $10 a share, comparable to $.0005 from before the split.
Good luck and it looks like things may finally start to pay off a little and reward us for holding. Again, my numbers are purely speculative, so don't take them to the bank quite yet.
Cropduster
