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Miller Energy Resources, Inc. Message Board

  • volfan4life2012 volfan4life2012 Feb 17, 2013 10:24 AM Flag

    Value of MZ Group

    We should soon see if MZ Group is going to add any value to MILL
    Over the last year Miller has successfully drilled or reworked several wells:
    1) RU-1 added a minimum of 210 BPD of production with potentially up to 480 BPD of production (RU-7 dependant?)
    2) Added RU-4 at 1 MMcfd of added production with a cost savings of over $5 million/year
    3) Brought RU-3 back on line with currently an unknown production rate
    4) In the process of bringing RU-7 back on line with a TBD production rate
    5) Drilled 1st Tenn Horizontal with initial production of 487 BOE/day in production with 100-200 BPD estimated long term production rate
    6) Drilled 2nd Tenn Horizontal with similar characteristics to 1st Horizontal
    7) Favorably re-termed their loan agreements with Apollo
    8) Raised $14.3 million dollars with recent preferred C offering
    9) Is due $15 to $20 million dollars in drilling cost rebates from the state of Alaska

    Despite all this good news the stock trades below $4/share and the short position is almost 10 million shares.
    If MZ Group cannot add value to the stock price under these conditions, with all this good news then Miller shareholders are being ripped off. Personally I expect to see some significant added value to the shares over the next month. Otherwise MZ Group should be canned.

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