Powder River Petroleum International Inc (fka PWDR)

[Oxyurid]

We won't qualify for the AMEX

You need a majority of your directors to be independent, and since we will only have 3 directors, of which only 1 is really independent, we don't qualify. This is to the best of my knowledge, but if anyone can put forth a different idea, I'm listening.

I do not think we will get to $0.30 for a while, unless there is a big push on the drilling front and production is great at Wesatche after the connections. But currently the decline rate seems to be pretty bad there, at least based on the wells that are posted on the TX RRC site, and if that can really be interpreted as a decline rate. I wonder how often they need to workover these wells to maintain production?

I still find it frustrating that they are wasting money on a share buyback when they could be using that money to drill wells like at San Juan or maybe even get a second rig to drill more wells at the new field. More wells, more production, more money = better share price. Not spending money on buying back shares to make your EPS look good or better, when production matters, not revenue from selling of WI.

Production and reserves baby will get you a better share price, period!! Of course, this is just my opinion.

Others?

GLTA
Cheers,
Oxyurid