I''ve bought back inBought stock at $1.50.
DFR had a very encouraging Q2 result. Production in-line. Some additional successes in drilling and well tie-ins. A very positive forecast of 1,400 BOEs/d at end of September. Debt in great shape.
Stock now very cheap. I earlier sold at $2.00 because the sale of company didn't make sense and I had cost base of around $1.50 (so figured I'd cash in a profit). More importantly, the risk profile looks much lower than 3 months earlier.
Nat gas prices suck, but having good day today with lower than expected injections. We gotta be near a bottom for nat gas. Could today be it? Still think nat gas going to $9/mmbtu sometime in 2008.
DFR looking strong. They should attract a merger partner that has higher valuation. I'll be happy to see this stock $2.25 near-term. I think that is possible with either a "bid" or some drilling success over and above expectations (also think good chance of this happening).