TGC Read this on the Yahoo board. Still researching to confirm these statements:
catalysts for new 52 week high include:
1. Oil hedge comes offline 100% in July......no longer collecting $65-75/b for oil....will be free market pricing.
2. 10 New wells drilled to date in 2011 which are coming online into EPS.
3. 16 Polymers being installed 2nd half 2011 & currently....doubles production on some wells....
4. 14 Additional oil wells planned to be drilled July-Dec 2011 (24 total for 2011 per conf call)
5. CEO has made commitment to fund growth out of cash from operations and avoid new debt ($20 million line credit open...only using $10 million now)
6. TGC is profitable with $65 hedge on oil. No longer a liability...unhedged production will drive EPS to soar this fall....longer stays above $65....TGC is profitable. With oil back over $100...EPS will explode.
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