If I can ever break even on this CXPO/MCF investment, I'm outa here! I was actually in the black around mid-November and shoulda got out then. Maybe one of the bigger oil companies will buy us out at a premium? We can only hope!
Why would you worry about breaking even. They are drilling wells that are paying back in 60 days in one field, they have an off shore well that promises to add big time to their revenues and is part of the of the most profitable part of the company, and the preliminary James Lime wells results are out of sight. It would be hard to find better deals anywhere in the lower forty eight states than this.
Plus they have already paid off more than half of Crimson's debt and have plans to pay the rest off.
If ever there was a company that should at least double in price this year, this is it and then with the extra cold weather, this company should profit handsomely from the sky high gas prices right now.
What more could you ask for????
They are straightening out Crimson's mess beautifully. If you sit tight, Cotango will most likely make you quite a profit. They had one of the best growth records out there over the last 17 years since their inception, and right now it looks like they are going to grow exponentially over the next five years and do it debt free. This may turn out to be one of the safest best out their even if the price of oil goes down. Cotango for years has advertised that they intend to be the lowest cost producer in the industry and for many years they have been one of the lowest cost producers. What more could you ask for???
Thanks Richard.....you make great points! I was just a little frustrated when I posted that and had already decided to hang on to my shares for the long term. Thanks for taking the time to respond and good luck on your investments.
"By plugging in the correct PV-10 costs, the value of the Buda reserves for the value of Contango's reserves rises to close to $600 million. That would represent upside potential of $30 per share in Contango."