BRN gapper potential - oil/gas low float play (4.5m). First day of real volume today and one of the best fundamental plays of all the microcaps of the sector. On pace for $1.20 eps and only at $15? Compare to the likes of PDO and MXC. This was $162 pre-split in 2004 and the earnings are higher now, even with the forward splits factored in.
Even on only about 40k shares of the original pop today, it managed to spike 24% - imagine a few more eyes on this. $20's are more than reasonable as it spent 2 years comfortably there, even on much less earnings last year. Even if this went to $30, it would still only be at a PE of 25, whereas the likes of MXC is up in the nosebleeds right now at 75-100PE.
Also, realize this is oil/gas first, development properties 2nd - oil/gas accounted for 98% of last Q's revenue and really, selling of properties only comes and goes Q to Q.
Just needs more people out there to see this is pretty much the best fundie play at these levels with a low float....show me otherwise, and I'm there!
