TSXV:ESR.H - Post by User
Comment by
Spicoli420on Sep 05, 2008 11:56am
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Post# 15433960
RE: It this statement true?
RE: It this statement true?As per the last financials dated June 30, 2008, they had $0.19 per share in cash. Management and BOD are excellent. Some of there land is right next to where Interoil's Elk 4 well. Today, Interoil announced that the Elk-4 had flowed at 105 million cubic feet per day. This was demonstrated in front of the PNG Prime Minister and some other government officials. This is a monster well.
LNG will be drilling in the next few months and they have enough cash to drill the first well. If LNG can drill something similar to the Elk-4, this stock will do very well and could indeed be taken out by a major at a much higher price. High risk but high reward.