Based on what? $1000 oil would be a Qtrly profit of what? Of course the price of oil matters. You do need to drill once in a while to increase production and add to reserves to increase further value though.
It seems to me that in the past, TGC stock price was more responsive to the price of oil. Now as oil is rising, TGC is falling. You'd think that with oil over $100 the stock could be just a bit higher than its 52 week low. If that is what he means, then I agree. A lot of people have fled because of that. Still, I will hold and buy more if it drops lower because I believe new management will turn it around.
This stock will turn in to long term capital gains for many of us; so we'll get to keep more of the profit.
Think if it ever hit $2 again.