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ChocChunk

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ChocChunk

Re: kanzler post# 1711

Friday, 12/31/2004 5:11:02 AM

Friday, December 31, 2004 5:11:02 AM

Post# of 3023
I looked a little further and although gas was discovered in TeePee 6-3, the Quarterly specifically says it was put online as an oil producer. It only tested minimal amounts of gas so I guess not worth producing.

And so whats the deal here? +/-1000boed and trading at near 52 wk lows? I guess it is close to fairly valued at $30,000/boe as the market cap is about $26MM.

Does anyone see production ramping soon or is STU stuck here until some more drilling success? Does STU have to go to the equity well to fund future development or is there enough cash flow and money in the bank to do this?

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