Replies to post #45163 on Hemi Energy Group Inc. (fka HMGP)

[Manti]

20 million since when? About June? It looks like they've added about 4 million since Jan (just a cursory look at t trade volume). I'm sure that with oil prices in the tank and drilling expenses coupled with a low sp the increased volume could well continue to enable them to stay "cash flow positive and debt free". Mid-summer should be about when the as run out.

Does anyone have a fairly accurate t trade tally since the last os update? It would be interesting to see how they correlate with the increase in os.

I personally think the t trades should exceed the increase in os due to shares coming off restriction and entering the float in addition to those sold to keep the lights on...

[REAZO]

My recent conversations with Keith have led me to believe that there is no need to increase the AS and he does not want to. Nor do I believe we will see OS = AS unless he comes across a great acquisition opportunity after the pps increases some.

He meant it when he said that Hemi was unhappy with the stock performance.

Also, I do believe that Hemi is able to generate some additional revenue with oil other than simply selling it.

The important take away in this is:
1) that they are profitable while oil is low.
2) Still no debt.
3) current stock price is undervalued based on assets alone.
4) THE BIG ONE. The reserves. Maybe zguy, Kels, or Mur can verify but I don't think Bennett was included in the initial reserves report. If that is the case, Keith just dropped a great little gem to the shareholders paying attention. The Bennett lease alone has recoverable oil that essentially doubles the proven number in the old report. Pick any really conservative number to value that ($10, $20 per barrel) and do the math.