joel, the insiders and major wall street share holders have churned this stock price for profit from the pump days of 2008.
Now they are sitting on 4.4% dividend at 5.00 share price, and have enough funding and lines of credit to expand where they see it, just like they did in the haynesville in 2007.
With a cost basis of 5, and over a 4% dividend, they already have their oil trust, and can wait on the next land rush where ever, or sea rush. Untill then, they'll just sit on what they have; after looting the investor longs from 2008 along the way.
I disagree. If you can back half the company for $120 million, that's like doubling production for what it would cost you to drill 15 wells, which won't even come close to doubling production and will begin to decline immediately. If you buy back the stock, you double production permanently.