yes 56k - flat vs 2 pennies last year so with their growth they still can not monetize their investments....YET. margin was solid up front and that was appreciated - the moly issue is big for me and is one reason the red flags are up brighter and higher as there is just too much uncertainty and how do they dump it.......pretty tough and to build it out would cost zillions and hitches would be many and running a mine ain't no free lunch. You would have to have a lot of things come together to make it work........it is an albatross........a land mine if it were. I AM NOT A BUYER IN THIS CONDITION and will be a watcher and monitor at this time......a trade situation is more interesting right here if any thing. With Earthstone you now have two shareholder centric managers and that is huge and I still say they are sold out in 2015 to first half 2016. US Energy is too risky and will need some unexpected catalyst to take it to the next level - it may come or may not and there still will be ole Ms Moly sitting there in her little house of cards at Mt Emmons........I don't trust her. Boolean
I bought some more at $3.98 recently. But USEG is less than one percent of my portfolio. I think it deserves a place in the special situations/turnaround basket, because it is likely undervalued. But I would not consider it as a small cap growth or small cap value pick right now. If it does turn around and share price more accurately reflects value of assets, then i will have to compare to other opportunities in the small cap growth space. Right now Buda not fully recognized in share price, there is also reasonable chance that eagle ford drilling will work on the south texas acres. There would be addition by subtraction if they could exit the Moly mine, And there is small chance they could turn that asset into something very valuable. (I'm not holding my breath on that, and unlike some other opinions that have been expressed, I would not own USEG just for that reason.
So I would recommend USEG shares to someone in my position looking for a speculative high risk stock to invest a small number of dollars. Of the stocks I have owned in this basket over many years, a third are five baggers or more, a third go belly up, a third do okay and track the market plus minus 40%. If one of them goes belly up, no big deal, worth a shot. One thing they usually have in common is management I believe in. God knows I've tried. Reggie gave a nice presentation the other day. Maybe they can get some resolution on the Moly mine. A new JV like they had with TC (TC was responsible for all ongoing costs) and I would like them a LOT better.