Potential of 2 wastewater wells that should be completed in Jan. looks to me like could add SIGNIFICANT earnings to our already good nos. based on projections in the investor info. used to raise the additional capital for the 2 wells.
Retook a position (3rd time) mostly around the $3.20 level and will add more should we go back to the mid $2's. The pop to nearly $8 on vol. equal to more than all the outstanding shrs. is just too much for me to ignore. Often times it is a precursor of a major event down the road. If not the stock is a relatively cheap value play with limited downside at current prices and good probability of a $10 price somewhere down the road if anything started to go right. My only concern is mgmts. complacency to maintain status quo in spite of lack of any significant bottom line earnings. Break even to a couple pennies profit is NOT o.k.
I think fair value here to be somewhere in the $2.50 to $3 area. More consistent growth or further bump up in credit facility which I expect will raise those numbers. This stock would also be a prime candidate for mo-mo players as it is super thin with Ran holding over 50% of the roughly 4.3 mil. shrs. outstanding and could be taken higher easily.