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Saratoga Resources, Inc. Common Message Board

  • diodia2000 diodia2000 May 17, 2013 10:24 AM Flag

    Is SARA really worth only $77 million, e.g. $2.50 per share?

    I find that ridiculously low. Even if everything goes wrong, it is hard for me to believe that another company would not pay $125 million ($4 per share) for SARA's reserves. With oil company stock prices high and China seemingly on the upswing, even small oil companies ought to be able to raise that easily.

    So I have kept buying it below $2.25--ever since $4.50!.

    One of the things I love about Saratoga is that it is not secondary recovery. You can make money in those stocks, but it always takes two or three times as long as they say because the water won't go where it is supposed to, you need more or different injection wells, etc. They get there in the end, but I love getting some results 30 -45 days after spudding as will happen with Rocky.

    I am hanging in. I think if they foul everything up, Saratoga will be sold, and it will be well above $4, so I am willing to suffer.

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