Galena, you may like REM because they balance high- and low risk stuff (don't most energy companies of any size do that?), but I like it because of their conservatism when compared with the rest of the industry:
- successfull effort accounting (a rarity these days) - no hedging - no debt
The first two factors increase the volatility of REM's earnings, but overall, the earnings quality is head and shoulders above that of most domestic E&P companies.
I agree with you wholeheartedly. I have spoken with several of the folks at REM and am impressed by both their strategy and candor. This is a very clean company. We need to hit big with something like SKE's "Frontrunner" ..hitting singles in what is perceived to be a "home run" type of business just hasn't attracted big institutional money....yet....I think this is a very fine company and those I speak with in the industry seem to agree...patience is a virtue..Rgeards to all...DEV.