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We are still long for the following:

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Longequity   Wednesday, 10/16/13 06:05:43 PM
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We are still long for the following:
We read the 10k's/q's and found BRHM owns a 2.5% override in a ten (10) mile radius in/near Abilene, Texas. We could not quantify the value for that. We infer it is really, really valuable long-term and we are glad to have taken a position in its unrealized value via BRHM. We consider this piece an annuity. The Gillock Field lease they have in Texas City shows valuable reserves with strong analogs (proven success nearby). Meanwhile, they have managed to acquire 10% of a very successful field and we hope they are working to buy the balance of it. Management controls BRHM. BRHM's market value is only around a few million dollars, if that. Is it possible Brenham is not trading nearly as high as it should because they have yet to involve any investment bank(s)? If so, we can hardly fault management for creating and controlling the intrinsic value they have managed to create which is many multiples beyond its current market cap. So, we're long.

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