thoughts on newsMost important point is they have found hydrocarbons and what information they have says this is worth testing.What else were we hopeing for?Smart decision to get a smaller rig and save cash.Any of the gamblers who bought this stock recently with intentions of a quick flip on today's news may be disappointed that they may not get a 50% pop tomorrow.Those that bought with the view that they would hold it for a year and see how the drill program worked out should be thrilled as I am.What difference will two months make?Another thing to think about is the fact the success rate for finding hydrocarbons is starting to look pretty damn good.
Nice risk reward ratio at this point too. Shacter figured it was already worth $3.00 even if Puma was D&A.Now we know there is oil there.How much is still in question.The other well currently being drilled could add $10 to NAV.So an undervalued stock with over 500% upside in roughly 2 months.Pretty hard to find.Maybe thats why it is a top pick.