Powder River Petroleum International Inc (fka PWDR)

[bobomarketblaster]

Good points, Sangamon. Although what he's doing is not exactly flipping, but rather selling off a percentage of working interest at a massive profit. That money is more that will be put towards either acquiring more properties with good prospects or towards the development/rework/reactivation program. The latter takes significant time and money.

I think some impatient short-term investors got cold feet over smaller production numbers than they had anticipated, thus figuring that the company would be missing the fruits of the winter og rally. But this is basically a startup company, and it takes time for the production to ramp up. And 3D seismic and new wells/well rework are expensive and time-consuming operations.

Meanwhile, money in the bank, excellent properties, and proven reserves just keep on growing. What's not to like?