RE: This reminds me of NZ awhile ago. aweigh, you are correct on the shares. NZ really only had about 20 million free floating shares due to all the shares the insider hold and Escrow shares. Same here with EOG, we really only have about 23 million free float when you factor in insiders and Escrow shares. NZ was sitting at $1 for a long time and as word got about about NZ, it quickly moved over $3 and they then did a PP at $3. I can't see why management of EOG wouldn't do the same here, that is let the story of EOG get around to many then if they need to do a PP, do at at over $2.
Remember, EOG may not even need to drill a well and could be taken out like UNX Energy was before they drill a well. Big boys will be attracted to the resource numbers that EOG has in the Walvis basin that is considered the mirror image of Brazil's Prolific Santos Basin (4 of the largest 8 oil discoveries in the world was in Santos Basin).