Mexco Energy Corporation (MXC)

[littlefish]

Not sure. Just know they have a proven biz model to make $ if nat gas is $4 or more. so if they get under tangible book value then I'm a buyer. tried to get some when it dropped into the $5s briefly but went on the bid only to see it take off before I got anything on my bids.

Of course, nat gas has been under $4 lately so the next Q could be tough.

Also, those wells they purchased last year that got me so excited are drawing down in production levels. Fairly steep the first year for those Barnett shale wells. But they level out eventually and keep a decent run rate for years.

The company doesn't control the wells (maintenance, shut-in etc) though so if CHK decides to shut them in, then off goes the revs spigot. But it also helps build for when they come back online. i used to have links to the actual well production (it was only one well out of their group of a few of them I think and a 2 month lag for the rates) awhile back but couldn't get the link to work any more. Was a pain in the arse locating the flow rates though so was disappointed not to be able to get that data again.
Got the name of the wells from Tammi after some conversations. It is public record for flow rates but as mentioned they're 2 month lag.

If this drops back into the $5s and I get enough of a chunk I'll find it all again. Takes time though as I recall.

Doesn't seem cheap at this level but if the mojos get hold of it who knows. I'm not chasing it.

Good luck.