I liked it too, at the end of the presentation someone asked what their current production was he said at the end of 2011 it was 4000 boepd now it is 14000 boepd. He also said something that made sense, Rochelle is ready to go but you can't turn on a gas well like a water faucet it has to be tested before it is brought on line.
EBITA (earnings before the deduction of interest, tax and amortization expenses) should be 400 to 500 million dollars based on sustained Europe based gas at $10 mcf and Brent at $115 a barrell c/w west texas at $90.
They have to meet a little over $100 million in interest, taxes and current capital expenditures. They said they may increase capital expenditures depending on the test wells in the US and output from Baccus. They said they are going to pay down debt. They paid off 25 million in debt today. Sonds like a stable plan.
I think they took a huge gamble and won! If Baccus failed and Rochelle was a dry hole they would be in chap 7. At this price I will buy more and tell my mom to buy some! A lot of companies like END go under but at the end of the year they will be a list of NYSE stocks that wnet up over 100% and END will be on it.