I'm still here. Just watching and waiting. Still haven't seen my dividend shares show back up in my e-trade account. Maybe if I get around to it I'll send a message to e-trade and ask them what's up. Has anyone else that has e-trade actually seen their dividend shares show back up? Or any of the other brokerages?
The last quarterly filing with OTC was pretty revealing. FNRC finished drilling the test well in September as expected. It was over 7000 feet, as I recall. The quarterly report also gave the name of the operator. The report is worth a read if anyone is still interested. They are currently testing the core samples to see if it is worth going horizontal, at least that was my take.
I would say that we should get a press release any day now, but I have been expecting that for several months now. The CEO said he realizes that the lack of press releases is not helping the stock any, but he said FNRC can not make any announcements yet due to confidentiality concerns with the operator, or words to that effect.
It is possible that we may not get any additional information for several more months until the annual filing comes out after the first of the year.
It seems to me that the stock is worth more than the current 35 cents per share, considering the fact that the company has $14 million in restricted cash in the bank and a stream of income from the Wyoming methane wells.
If the test well turns out to be worth further drilling and if FNRC and the operator can get some level of decent production, then this stock goes to at least $2.50, in my opinion, or maybe higher. Just a waiting game at the moment. I would encourage management to release some kind of drilling update before the end of the year.
Cropduster
