It's a oil stock. So if they pull oild out the ground, the stock will run crazy. Right now the sp is low becos no less oil pumped out of ground. They need only 100 BOPD to be come cash flow +ve. They have 18-20 leases. So if the pump 25 BOPD/lease, it would 500 BOPD. Having said that, right now they are focusing on 2 leases with the CO2-EOR (secondary recovery process - check the intro of this board for a primer). last time they said with <25% flooding they were able to increase from 30 to 71 BO/week.They are expected to annoucne full PD results end of this month. So, if they hit 25-50 BO/Day, they it's super good news. that alone will take this stock to .03-.04 range.
Always, have a little stake in PEII, so you don't miss on any sudden moves. Its oil stock, so it can go either way.
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