Wednesday, April 11, 2012 5:24:22 PM
They do a decent amount of revs in O&G given the market cap IMO. Will be interesting to see how Q1 2012 looks with the workover work put in for Q4.
Think they expensed $300+K in Q4 for workovers and only $200+K thru 9 months prior to that for 2011. If they can show a jump in production/revs and show profitability in Q1, I think you have found an interesting thinly traded company. No idea how much of their revs is oil vs nat gas but if heavily oil then they timed their workovers nicely with Q1 oil pricing likely higher than Q4 2011.
Still has the unknown Triumph legal stuff that wasn't spelled out IMO but the positive counterbalance is what they might collect on the Dacca monies still owed.
Good luck, hopefully continues to work out well for you. Too thin for me but looks like a solid speculative play with potentially multiple positive catalysts to drive it higher.
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
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