BIGN has leases on 180 wells at Grimes. There are currently (2) wells that have been hydroslotted.
The first well was a test well and slotted 10 feet. The second well was slotted 150', and produces 1450 MCFD. They are in the process of doing two more wells, and the announcement will be within the next month. As the program ramps up, more wells will be brought online at the same time.
In addition, the finalization of a letter of intent to purchase a Texas oil company is due any day. This company has a lot of assets as well as equipment. My calcs are this is worth .10 per share by itself.
There appear to be many long term investors firmly entrenched in the stock, and announcements will bring new investors.
There is much more to BIGN, but these are some of the short term characteristics.
Natural Gas will not stay this low for that much longer, and the big hurricanes will start within the next month.
Shermann
