Friday, October 27, 2006 1:01:57 AM
And is trading at $2.50 with 5 wells.
BIGN.PK has 330M Shares Outstanding.
Approximately 10x the O/S than SERG.
So for comparative sake, let's divide $2.50 by 10, and assuming all other things being equal, BIGN with 5 wells (which could happen any day now or may have already happened) should trade at approximately .25 cents.
Not bad!!! (This is assuming that SERG's 5 wells are all ng wells.)
***And BIGN may arguably have better producing wells than SERG (if Grimes 3 & 4 = Grimes 2 production).
IMO GLA (Hopefully, I got the math right, if not, please correct me. And yes, I understand that SERG is an OB and that BIGN is a PK. Nevertheless, a pretty good comparison. Good find IW.)
IMHO DYODD
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