I bet Tobin is willing he didn't do the coverage at that time. Price took a nose dive. Now could be a different scenario. Full Tobin report: http://nbtequitiesresearch.com/sites/default/files/uploads/CRCL_Report_Final.pdf We are launching coverage of CircleStar Energy, Inc. with a Strong Buy-Speculative Rating at a $7.50 DCF Valuation on 45MM shares (fully diluted) @3,000 BOE daily production by end of 2014 @$75 net revenue per barrel. In the last 45 days, CRCL has secured 71,500 acres in the oil-rich Mississippian Limestone formation (known as the "Mississippian Extension"). In our opinion this Mid-Continent Mississippian Limestone carbonate reservoir is the "next big thing" oily resource play in the rapidly expanding onshore US oil E&P renaissance. Moreover, we expect leasehold valuations to grow to $8,000-$10,000 an acre by 2014-15 like most major new US onshore oil resource plays of the last ten years which have benefited from new horizontal drilling technologies. $10k per acre market pricing would imply significantly higher CRCL share valuation upon acquisition by mid-size oil E&P or energy trust.