Waltczyk, your opinions are your opinions and you are entitled to them. On my side of the discussion, I was very satisfied with the Financial Statements.
Even though they are unaudited, it is my opinion that they have to be a "fair representation" of company business in the year of 2007. If they were not, management has put themselves liable to criminal and civil action. I deem this doubtful since they just settled a law suit.
I anticipate results in the future based on current knowledge and the results of the past.
2007 was a short year for production. We know this because there was a "National Disaster" declared by the president and we saw pictures of the flooding on television and on posts.
In 2007, there was a 343% increase in Gross Profit over 2006. That is after a 53% in cost of sales. Those numbers bode well for the future, since we know from PRs and on site posters that they only had two new wells in 2007 and there are, thus far,4 new wells in 2008.
Due to the number of posts that have described the access problems to the Anticline wells, we should all understand that production and growth will be limited when it is raining in SE Kansas. Therefore, it should decrease expectation for the results during that period of time. However, the rainy season is ending and no one has as high of expectations as I do for the next 7 months. Allenergy has, as I understand it several miles (5 unless I am mistaken) of leases on the Anticline, they have the capital required for drilling new wells and they have the ability. The only unknown, to me, is do they have enough manpower (employees) to sustain well production on the number of wells they are able to drill over the next 7 months.
OT - My name is Richard M Johnston, I was in the class of 1973 for USC School of Accounting. I am sure this is easy to verify since you doubt my accounting background.
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