Hi Brent ref. MKGP 2/16/07 PR you posted:
Just a few comments from a biased shareholder: lol
These are 1st 2 PUD wells(proven undeveloped) out of a plan involving 20 wells+. Micro Caps PRed a while ago that MKGP should be able to drill up to 2 PUD wells/per month(if everything were perfect, which it never does lol). imo We should get a minimum of 1 per month or maybe 1.5 per month average. That means the news will last for a long time and well into 2008 if I am correct, just on the PUDS alone!
In any event, these PUDs are shallow wells in a "proven area" of reserves. The PRd future total value of the PUDs was placed at $353,000,000 from what I saw. We not only are partners in that, with an option to double our ownership through July 07, but we are the operator of record for the entire Bigfoot field. That largely just eliminates many of the customary costs involved in exploration and drilling, and gives us a very nice chunk of revenue for the operator tasks.
Further we have the #3 pud end Feb that we will hear about. imo
the key is we can expect continued "substantive news flow every months" on these future puds, for perhaps 10-18 months.
*Then add all the other News potential:
1.Gas Line at Bigfoot being worked on, and we have a buyer signed on for the gas, immediate revenue.
2. 25% of the initial well work-over plan still is due to be announced. The initial workovers indicated increased production by 20%
3. Monthly new Proven Undeveloped Wells (PUDS)
4. 50 Gas leases (each lease may have muliple wells). We currently have a minimum of 4 working wells with huge reserves thus far in West VA. We have a 25% interest here.
5. Mystery field in Texas doing horizontal test drilling.
6. New workover and new Pud Programs
7. Since the company is only 10months old and is already PROFITABLE now it will likely want exposure, and that likely means imo high profile IR. If correct, that will generate demand and drive up the price, since we have a very limited Float, with the insiders holding the vast majority of the stock.
This is a slow climb from Early Dec when it was around .035 to Friday when it was .072 and as the word gets out the demand increases. Micro Cap has a short term target of .25 - .35 and a longer term target of 1.25 -1.35.
Profitable Penny with tons of Potential, and it puts its financials up on pink sheets. It is run mostly by conservative CPAs and has a CEO with a longtime oil history.
At.072 I think this is a very nice bargain for a profitable penny stock and one of only about 1% on the pinks. imo It is a longer term stock, not a rocket blast of two days for flippers and daytraders.
Brent:
Hope you finally got in, since the cement floor seems dry and now is around .07 as of last weeks trading. A long term price of 1.25 -1.35 makes the current .072 seem like peanuts.
One very important disclaimer is that this stock seems to move as a ratchet, 2 steps forward and one back and then repeat. That seems to be the pattern so it is a slow trend north, at least so far. imo We have just come off the 1 back, so we should be ready for the 2 forward, with a tiny float a little news here and there is great. imo folks that wish to buy should stagger orders from .068 -.08 and you should get some decent fills. We seem to have plenty of bottom-fishers9 I can raise my hand for that one) and most of those bids don't even show courtesy of the MMs, they are on level 3 only lol Pinksheets.com gives you real-time bid and ask, unfortunately the MMs have many orders hidden so the spread looks much bigger than it is most times. You can usually only buy 10K+ very near ask, or at ask, it has been that way most of the time for weeks now.
BOL hope you like it 1/3 as much as we do, if so you should be a happy shareholder.
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