prospector - there have been many promises and missed timelines along the way, as well as a merger that the remaining Torreador shareholders are unhappy about. I bought in at 1.85 or so and thus have no great bitterness. The ZAZA team's evaluation of the land package makes sense to me. The inherent value in the proven properties other than the Eaglebine Walker County gives this company a base value that I believe we are at right now.
I'm content to hold and perhaps by more, for the future prospects. I currently own 28000 shares.
STINGRAY sent a bad mojo throught he stock. Until they actually do something all the way through to completrion, going to be a low stock. ( Some believe ZAZA is incompetent to a scam, but I don't. )
THere is always the possibility that the STINGERAY lateral was not lost, but just didn't produce. That would be outright lying, but if it were true, would lower the intrinsic value of their holdings to essentially nothing. At this time, I will believe that they lost the STINGRAY, and that does happen somewhat. Will take time and success to build up stock momentum. in my hopeful opinion.
millstonec - thanks for the comments. Reading through the releases, looks like the shed the Torreador management/assets throughout last year to focus on unconventional in E Texas. All I keep reading about is Eaglebine, Woodbine, etc. Seems like the hottest play right now, which is what drew me to zaza.
m_ritchey - thanks to you too. Still catching up on the backstory. Understood, and with you on production. That should be relatively soon though, right? This lower cretatious, co-mingling deal sounds interesting. That's got to be at TD, right? Was 12K+ in the release earlier this week. How far down is TD on that type of well?
On stingray. Outright lying? I can't believe that. Have been following HK too. Seems like they shout the loudest. Understand they had a few wells they weren't able to complete the fracks. Sounds like zaza got farther, but blew the lateral at the very end.
Dont have a TON of shares, but thinking of increasing my position and taking a shot that soon to be results will pan out.