Recently Sandridge Energy sold a portion of their leases that neighbor SIOR's leases for $2,200/acre. This places the value of SIOR's leases alone at over $15MM. Their current market cap is in the $1MM range which leaves an obvious upside to this stock.
Furthermore, surrounding operators have been completing horizontal wells for an IP of over 2,000 bbl/day.
SIOR plans to re-enter an old vertical well this month. They will sidetrack through the Mississippian age limestone that is the region primary source rock.
The new play is called the Mississippian Limestone Play in Oklahoma north of OK City & South-Central Kansas...