Food for thought:
According to my DD the current outstanding shares are about 171,000,000. With the recent release of the 65 barrels a day being produced, that generates about 3,000,000 in annual revenue, but should rise with the rise in price of crude oil, but I'll keep that number for just a minimum. When they come out with the 12 well press release that should generate about 1,440,000 in annual revenue. That equals a total of 4,440,000 in annual revenue without any other increase in barrels per day or new well tie-ins, but the rest of the 300 wells are expected to be finished within 2 years. So conservatively saying that nothing happens for the time being except for the 12 well release, we've got a valuation((4,440,000/171,000,000) + the .002 that they have already been generating) of about $.028. So we should be up to there in no time. And in the months to come they will only finish more wells and produce more crude oil. Saying they finish half of the wells within the next year takes the valuation to about .13. So we can safely say it will be at least that in a year. I expect it to be much much more given that with the 500,000 acres of land they have they will produce much much more oil. I expect at least 500 barrels a day. With that and the increasing crude oil prices I estimate the valuation should be about .35 easy. With a rise in natural gas prices as well we could see this stock being at 50 cents by end year 2009 which is probably when they will raise the outstanding shares to 400 million. This stock WAS a penny daytrading stock, and can still be used as that for a short while, but now it is most certainly long term and a great investment for people looking for a great yield. You just have to be patient and you will be greatly rewarded. Hope this helps some. Good luck to all, but I assure you you won't need any.
AI
