News out on reserves, drilling plan Well I need to have a couple of coffees before I analyze this but on first glance it looks positive. Obviousilly there is a bit of blarney in their reserves numbers because a NAV of $1.69 seems to be a bit high for a .40 stock but maybe that will change today.
Plan to drill 13 wells in 2013. I still don't see how the cash flow would support that but that is the plan for now.
The biggest concern is that they essentially planned even higher numbers in 2012 after putting this report out and came in at about 50% of their target so I don't think a parade should be planned yet but things seems more positive than negative.