Remember folks, the next earnings call will be for Oct, thru Dec. '05! Prices were between $10 -$15 for the entire qtr. They never got above $8 in all of '04! This has to be the moneymaking qtr!(or else I'm dumpin' 'em!)I hope to see $12-$14 soon. LONG AND STRONG IN WEST TEXAS!
Worst performing energy stock. Companies financials are detariorating every year. There has been no potential profit generating discoveries so far. More down tren will be imminent unless company sucessfully drills "non-water" holes..
With companies like ROYL, it is less about EPS and more about Free Cash Flow plus replacing reserves. If FCF is rising, and proved reserves are going up, the company is growing. If proved reserves go down, and FCF contracts, the company is dying. We need to see more proved reserves, plus excess cash to fund more drilling.
When ROYLs P/E and earnings looks like BEXP, then you might see $12! Even with a good quater and all the drilling going on, paying investors packages (checks) and royalties, if they would make 40c/share I dont see even $10 in the near future! Hope I am wrong and good trading, ROWDY Where are you in W-TX, I was stationed in Ft. Bliss, El Paso?
We are the Midland-Odessa area (petroplex) which is halfway between El Paso and Dallas! We built a house a couple of blocks from Ratliff Stadium where they filmed "Friday Night Lights" ! I graduated from Permian back in 1970. We really had our Mojo workin' back then!