RE:New low $ .195
Those are times when character is built. :-)
If I count 22500 shares/day 22 trading days a month this is something like 0,5mio shares/month they buy back. Around 93mio shares outstanding (I do not assume that at current prices a lot of options are in the money) this makes 0,5% of the outstanding shares bought back every month or something like 6% over a year which is nice in my opinion.
The current share price is almost the same like the end of 2009 but I would say that the company is in much better shape than back then as they are self funding and buying back shares.
It feels really bad to be down 75% as I am but they are cash flowing something like 400k/month from current production and hopefully they will be able to get the remaining 3 wells online within the next few month drill one more well this year and maybe a handful of wells next year.
Nevertheless this company will only be the big bang if Romania is a success, IF NIS hits paydirt I think we see share prices which give us happy faces.
So this is a company that is self funding, buying back shares while waiting for the truth machine to turn in Romania. At current prices I see much more upside than downside. I am convinced that there is value but that does not mean it is refelected in share price.
Just my personal thoughts. DYODD
carinthian