Cohan is conservative. Last year was an aggressive move for him to step up to 10 wells for 2004. Big increase in production and revs should come thru in 2005 financials. He had a small private placement to fund the new wells.
He has 10 more wells set for 2005 and should be able to finance from cashflow. If they are as successful as 2004, production should jump another notch. 2005 should be a good year as revs and eps will show up each qtr plus he should have additional drilling news to encourage new investors.
This is obviously a small company but Cohan is smart and is buying high quality prospects. He will be doing the right things for himself and us. I like the domestic production and favor ngas over oil for US drillers. I think we will have a multi year bull market for ngas in the US. Bobwins
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