OTCPK:GSFVF - Post by User
Post by
bjorn3d2bon Mar 14, 2011 1:25pm
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Post# 18281952
The $20 Trillion Report Features GFS
The $20 Trillion Report Features GFS
GasFrac update
We've been waiting for GasFrac to release their fourth quarter earnings. Last Friday, our wishes came true...
And now we're more bullish than ever on this well fracturing company.
One of the sweetest words we've heard came from GasFrac CEO, Dwight Loree, saying, “The results this quarter show that GasFrac has achieved a firm foothold in the Canadian market.”
Here's a few highlights from the report:
Fourth quarter 2010 revenue was $41.1 million, an increase of 478% over the fourth quarter of 2009.
EBITDA was $6.1 million during the fourth quarter, compared to a loss of $1.3 million in the fourth quarter of 2009.
Revenue for 2010 was more than triple that of 2009.
419 fracturing treatments were performed last year, as opposed to 142 from 2009.
Year-Over-Year revenue increased 219%, from $30.4 million to $96.9 million.
Building on its Canadian success, we're expecting GasFrac to now establish its presence in U.S. shale, including the up-and-coming Eagle Ford shale in south Texas.
The company is also in the midst of filing its application to trade on the TSX exchange, a process that could take several weeks.
Here's the bottom line: We're still at the beginning of GasFrac's run. Despite the news, they're still relatively unknown to investors. Imagine what will happen once those investors finally catch wind of their success. GasFrac remains a strong buy for us, and we'll continue building our position on any market dips.
Enjoy your profits,