jakson, you're a perfect example of the transformation of WGAS. the hot money is leaving because they don't want to wait weeks to have a shot at steady, and then possibly huge, profits. that's not their game. they run from one issue to another, conditioned to mistrust all CEOs, to fear the diluters, etc.
i think you've done a great job of sizing up the risk/reward. there is the possibility of more dilution, from later maturities, although that seems to be quieting down a lot. debt can be negated, or offset, by oil revenues, and that's exactly what mustang island and the I-1 well will begin to provide.
imo I-1 is no VM-179. i doubt it's going to catapult us to a 50M market cap. it's there for cash flow, to pay a lot of bills, and get our balance sheet turned around.
the other leases, like d-bar and south texas, and then drilling VM-179, these are the catalysts that could create a lot of millionaires around here.
so we wait out the flippers, we take their shares from them at low prices, and stow them away for safekeeping. the float is tightening up -- you can see this already on L2, and in the lower daily volumes. but we're holding this price level and the investors are waiting to push it higher when the time comes. once we break out, i doubt we'll ever see these levels again.
thanks, by the way, for a great post. your experience with OEDV will be invaluable here. this is your "ground floor" opp, a 2nd chance at that "200 bagger". :-)
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