90 days to deploy...they didn't say if it would be to a freshly worked rig sight or a workover sight...ya can't frac without a hole people...it'll be Jan of 2013 AT THE VERY LEAST, before any possible news either way on this untested technology. That, and the fact that depending on your math, this company is worth anywhere between .68 and .0017...if you believe the stated market cap or base your valuation on the total assets-liabilities from the last 10q...I'd say that without some new, earth shattering news there is considerable room for movement to the downside. At the very least I expexct to see it test last months lows...several of my friends here in the Bakken have been recklessly throwing money at this company for weeks now...I've touched the red hot stove a few to many times to get excited about any "highway to heaven" stock with this little actual tract record...but...with that being said, there is enough wishful thinking dreamer/gambler in me to take an entry level position here with a gtc @ .30. After that it's anyone guess as too what I'll do ! LOL.
One thing is for SURE on this one...we are all standing on the working end of the crap table and one bad roll and it's good night Ireen, good night !
One blow out is all it will take and they happen with proven fracing all the time...killed a guy up in Williston just last week. Not to mention a million other issues...even after the frac they have to run a coil job, pre and post production work all has to be completed before a single barrel comes out of the ground...and at BEST it will be March or April before that happens...and misfortune waits at every stage.
Buyer beware...
