Hard to say where this will qo after the 10Q release, depends if they report on the high or low side of their estimated earnings. We know Cavier wells are producing better than expected, so higher revenue here. We also know more debt will be paid down due to higher revenues. New debt also on the table to finance further drilling activities also needs to be factored in. Then last we need to see what forward guidance will be, expectations from the last 10Q was $800-900K, but guidance may go up due to the above Cavier well production announcement. Then you have the MM's still playing their games.
SO with that all said, a strong 10Q on the high side of estimates, maybe even better than estimated should put us back into the $.02 range, possibly higher factoring in a raised 3rd quarter guidance. Thanks to the MM's beating this stock down way past the 6 to 1 dilution it's going to take a great 10Q to restore investor confidence. Like I said earlier, with the full 6 to 1 dilution going by the $.40 PPS on June 12th, this stock should never have dropped under $.06-.08 share price, and should have even gone up with the increased Cavier announcement, guidance has not changed, and the company continues to move forward with projects on their acquired leases. The dry well at Lone Oak did not change the fundamentals, yes it would have added to revenue, but it didn't take any revenues away from the bottom line, it was just another excuse by the MM's to knock the share price down again, and they did by over 50%.
Their doing the same to HTOG and UPDV, and it's the same players, UBSS, NITE, ETRD, AUTO, and DOMS. You can look at their share volume here on each of these stocks, they are controlling the price. Buy keeping this stock actively trading, even if it is sverely to the downside and panic selling, the MM's are making lots of commissions on these buys and sells, and that's what it's all about. They have made boatloads of money, and they could care less what damage they do to a company by doing this, should be highly illegal, but thats why there are all these loop holes, it's government sanctioned robbery.
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