China Growth Stocks

[2morrowsGains]

NEP...Here is an est on Q3 EPS...

Q2 & Q3 bbls were pretty much flat. Let's say the price of oil averaged $10 more a barrel in Q3.
224,750 bbls x $10 = $2.25M.
$2.25M minus the extra 20% surcharge = $1.8M.
$1.8M minus 34% tax rate = $1.19M in extra profits QoQ which equates into approx $0.06 more in EPS QoQ.
Q3 est EPS = $0.19.

Not sure if my figuring is correct here, but it's just a quick estimate. If the #'s are close to being correct, then NEP's recent share price still looks somewhat attractive here considering today's price of oil and the strong forward looking statements in today's PR...

"We anticipate the total number of expected wells to be drilled in the fourth quarter will exceed the total number of wells drilled through the first three quarters of 2009."