Once again, great buying opportunity at these prices. FX has drilled into the top of the Sroda pay target. Upon well clean-out, gas flowed to surface. If this had not occurred, it may not have condemned the well but it certainly would have been a much uglier picture than the one posted on the website. Now, they need to drill deeper into the pay, see how thick it is, see if they drill into a gas water contact, etc. Then comes flow testing and associated engineering calculations from the well. There is absolutely nothing to be pessimistic about. On the contrary, the data currently available is VERY promising. I, for one, intend to patiently await further news. I have invested in a lot of oil and gas projects historically. Never have I been involved in a project as attractive as FX's. Current pricing is below bargain basement and reflects a lack of understanding of what has been proven, not to mention the increasing potential of the Fences concessions based upon the extant data confirming Hardman's interpretation of the Polish Permian Basin. Traders will continue to play their short-term nickel, dime, quarter game. The patient longs will enjoy the harvest over the next few years.
I think it is important expand on the short term perspective as well. We should have a press release on the Sroda well within the next 10 days with such details as confirming commerciality, flow rates, and size of the pay zone.
There's a lot of shorting going on ahead of that right now, setting up a possible short-squeeze.
rather, I find it incredible that there is so little talk about the Sroda success.
The tone of Hardman's voice even gave light to the fact that the Sroda is much more than they had even hoped for.
Pierce made comment that the Sroda is looking like their biggest discovery to date.
When more results are made public, perhaps the "light" will come on for some. I am looking for some sharp improvement in the stock price in the next couple of weeks. Trying to find more cash to buy more at these prices, too.
Artic, is it just a casual coincidence that every time you pump this unproven company, it drops a little further? Your posts leaves the sense that you follow the industry closely. However, the March-April price movement indicates that the upside is limited. My question to you is, with your long history with this boutique company, other than a few resumes, when has this management ever hit paydirt? Sorry but unless one's b.e. is <$10.00 there's nothing but Faith to stay the commitment.
As far as Arktic showing up when the stock declines, I have only seen a consistent message from the $3 range in 2003 till now. Invest on dips, good macro situation, prime concession acreage, 3-5 year hold and that has resulted in a 4-5 bagger over that time. Anything incorrect here?