Otherwise, I'm telling you that with the current state of my effort in doing the DD on this issue... I have no idea what the price of a "cheap" share would be. That is what I'm here trying to figure out.
I'm not here making any predictions about share prices... without having any information I can rely on that would allow me to do that. I expressed some skepticism, when I first arrived here, about the price predictions I saw that some others were making, mostly based on my read of the patterns in the technical indicators, seeing what is apparent in the recent transaction history in the filings, with the events the company has reported... and my not seeing that there was anything here that made it easy for me to support any of those sort of guesses.
Now, I've BEGUN putting a little bit of effort into doing some basic DD to try to determine what a share "might" be worth...
Thus far... I've got nothing to allow me to even make a WAG.
Maybe shares are worth more than they traded for today, and maybe they are worth less. I don't know.
What I see in the recent performance in transition isn't encouraging, but it also isn't determinative...
I can't say I really buy into much of the stuff I see in the IBox... where they say they try to avoid the risks other oil companies have by buying only already proven wells from others, or that they have some unique advantage resulting from being able to buy properties that others aren't even bothering themselves in competing to get. Don't see anything showing that they have any unique capability that others don't that enables them to do any secondary recovery that others can't figure out how to do, either. What that all sounds like is that they are pumping yet another stripper well operator, while pitching some old dead oil fields as if they are somehow likely to suddenly fill up with oil again... to allow them to produce from them as if they were virgin finds.
Of course, there IS often some real potential left lurking in proven fields that weren't fully developed... and real oil companies ARE built on minimizing risks and growing production and reserves over time... there ARE opportunities to apply "new" techniques to wells that failed when those techniques didn't exist to take advantage of, etc.
So... it would be nice to know who the people are... and what sort of oil industry or oil field experience exists in the management team ? What makes them experts ?
I'm GOING to be skeptical until I have answers... which doesn't mean I've already made my mind up about what the potential is here.
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