You're absolutely right, hillzman. There is gas zones Hemi is going right past, while going for the (black) gold.
These wells will have gas value long after their oil value is depleted, making the Hemi wells especially attractive in the event of a buy-out.
It should also be noted that, as DD2 points out, there are 4 zones in which Hemi has available to produce from, much of which the true potentials have not even been fathomed, much less factored into the pps.
If estimates are $700M worth of reserves today, it is only likely that number will grow as these fields are proved up, in combination with the increasing price of oil.
As we can clearly see, Hemi has a bonafide recovery program that is NOT dependant on external financing, and since Hemi is ALREADY producing profitable quantities of oil, making headway on the anticipated drilling program, will be no problem.
As time goes on, over the next few months, we can even expect to see a compoundingly growing production number, as each month, more wells are brought on line, and more new wells are drilled than the month before.
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