Replies to post #2585 on Cano Petroleum (fka CANOQ)

[SeaOhToo]

Absolutely. How much money was made when CANO announced the BK news. Did you make $$$ when it went from .06 to .02 overnight? Everyone of the 45,000,000 shares are bagholders. .008. $2.7 million in market cap was turned into $350,000 overnight.

Value investing! Finding the pennies that have assets worth more than the SP. Isn't that why we were all looking at CFW. The assets at one time were valued over $100 million. With out any cash to explote those asssets....they are now only worth $47 million. Unless someone has the cash to develop and produce oil....turn into cash....that's all it's worth!

Common shareholder is ZERO!.

Invest in a company that has cash to develop the assets the own!

[SeaOhToo]

They are out there...

I have found one that is valued at or near the cash in the bank.

$25.5 million (.16 a share)

Assets....

28,000 acres, PV-10 2 of the 3 fields they own, 360 BOPD production and plans to drill 3 laterals. If each lateral only produces 200 BOPD that will triple the current production.

[SeaOhToo]

asdgwest, you need to look at value...

EORIF, now has a US Listing, $25 million in cash, No debt and is drilling 3 wells. Production of 350-400 bopd with 26,000 acres of oilfields having a PV-10 Value of $55 million.

Trades at .12-.14, market cap of $20-$22 million. Again, cash of $25 million and no debt. VALUE investing in a penny stock.