Basically, I agree. But, it seems to be a "get wealthy slowly" program. I don't have enough to really watch. And not totally done my homework. Wonder if they don't have a lot of acres "held by production" that might be valuable?? I would be interested in the info on the "good stuff" you mentioned also!!!
The "good stuff" is that the company has a huge amount of land in their main concession and they
can look for gas as soon as it reaches 5+. they have extra hedges for their gas production, and at
every acre they drill for gas they can start looking for oil.
They have 200,000+ acres outright theirs to explore in a much more gas oriented areas and over
500,000 in their main concession, where they have oil rights in close to 20,000 acres and every
new gas drilling gives them oil rights at that acreage.
Their main concession is in decent terms and they do not have huge lease expenses.
The downside is that they have high overhead and they have to increase their credit to have decent
liquidity. They expect to do that during this quarter.
This is not a short term investment, but instead a 2 year investment that could and should do well.
Good luck to the compant and to us, its investors.