Doubloon, I just got off the phone with Mr. Bliss Harmer of Creston Oil...what we're looking at here is income from up to 150 wells which will bring in anywhere from 3 million up to 8 million dollars over the next 12 months...the company has a current market cap of 14.2M$, so at minimum would give a PE ratio of under 5....
the well in Wyoming that is a JV with BP....the onsite equipment belongs to CSTJ, so they took a small cut of the profits based on the worth of the equipment BP is using.... they are bringing old wells back into production which will be profitable at current oil prices....sounds pretty lucrative...management consists of 4 very experienced men... also might mention short selling has been a problem since the RS, but that will dry up as the word spreads about the prospects of future profits...
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