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GMX Resources Inc. Message Board

  • stokdork stokdork Nov 9, 2005 6:14 PM Flag


    is this company worth 25$ a share, they have 11 employees, seems a little sketchy , longs fill me in please.

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    • they have 11 employees on staff....but they have several dozen working as contractors....

      that's how a small-cap oil company don't keep like 100 people on the permanent payroll, you contract out most of the people.

      So, that 11 figure is just the long-term people on the payroll---don't read too much into that...

      Oh, and as for your revenue concerns, well, they'll likely due $18-20M for FY'05, and perhaps $50MM for FY'06.

      That's a triple-digit (100%+) revenue growth rate!

      So, yes, the stock deserves to be $30, $40, or even $50 right now!

      • 1 Reply to vivrant1717
      • Anybody that knows jack sh*t about the patch knows that the number of employees is meaningless. Hell, each drilling has more than 11 fulltime employees if they're working three tours.(that's pronounced 'towers' for the patch newcomers). But nobody has their own rigs in this day and age, so they are classified as contractors.

        I love the smell of burning short balls in the morning, lol. IMHO, pipe