has 300k barrels in Oil reserves..that's why it's trading so cheap..they can get dry at anytime of the day plus they only increased from 51700 BOE 2003 to 56200 BOE 2004...Plus I think these folks are pushing those wells at a maximum rate that will damage some wells sooner or later just check that info on well Lynn 1 ...production went down in a matter of time from + 200 BOPD to 100 Bopd..
not my cup of tea this one...offcourse they will post good earnings but is this sustainable...in the long term..> 1 year.
I stick with FPPC & ASPN in this Oil-Gas Microcapsector..Didn't find any other Valueplays so far...besides those two on the US OTCBB.
I reviewed my DD notes on BSIC. One thing to remember is that they are not paying taxes now. Having said that, if their revenues and earnings are growing, BSIC may still be a good value.
One thing I started doing this year as I do DD is to take notes on each company. I have notes on almost 30 companies now. I'm finding that it is getting harder to keep track of the companies and the notes have been very useful.
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