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Thursday, December 22, 2011 9:25:51 PM
My buyin on TAG started a little later at a higher price and right now I am thinking that at $1.06 NZEC is looking pretty good. I have been buying on the lows over the past few weeks and if they have any good results, it will be much easier getting a double or triple out of this.
Of Moki 2 has similar results (ie 550 BOPD), then the company will have over 1,000 BOPD on just 2 wells.
Investor relations also confirmed that Moki 3 will be drilled as soon as Moki 2 is complete and that they have identified 6 other drill ready sites (3 wells each) that are believed to be similar to Moki 1,2 & 3.
Using Keith Schaffers method of valuation the stock price would jump to over $1.20 without any consideration for potential of either the East or West Coast.
1,000 BOPD X $70k per flowing barrel divided by shares (57 million)= #1.22.
Based on the success that TAG and others have had in the Taranki basin, I feel this stock is no more risk than TAG was when they started up. JMHO.
Dana
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