OT...for blackoilpeaking...and someone else who asked regarding an ng play
WRES is where I've been building a position. Please do your DD. Key items besides the stats that are in the Sept presentation. Note in particular the increase in SWAPs on 2014 ng versus 2013 pricing. Substantial % gain plus only 50% of production is hedged. They just added 25 CBM wells and Type curves on CBM is virtually opposite of oil Type curves...they dramatically increase in the first year. Additionally 45 new CBM wells to be added in 2014. Internal rates are 60% IRR on oil wells, 30% IRR on natgas wells. Major downside is the stock is totally off the radar even though low PE, no shorts, and mostly fund owned. This is not a recommendation to buy...I was asked what I was buying on natgas and this is the best undervalue I've found. JMHO
I agree bog. WRES is undervalued. I do not own it only because it is lightly traded. I'm afraid if I want out I will be trapped but I do like the company. I have a watchful eye and a itchy trigger finger for WRES. Enticing spec play but needs to gets noticed.