TORC Oil & Gas Ltd. T.TOG

Tooo bad they have pinheads running this thing

[greeneggs]

They could up their cap ex by 100 mill in the second half of the year, which would bump up production by 5000 bopd for a year----bakken wells, atleast PBG's avg 100 bopd for the first year. AND THE THING OF IT IS, THEY COULD LOCK IN 130 DOLLAR OIL FOR A YEAR WITH A HEDGE. And thus using a conservative 110 netback per barrel, that's right, with 130 bucks a barrel locked in you're talking netbacks of 110 with the royalty holiday on the first 32,000 barrels. AND GUESS WHAT? THAT 100 MILL CAP EX BUYS YOU CASHFLOW OF 200 MILLION DOLLARS, THUS LOWERING YOUR debt to cashflow ratio, and bumping up proven reserves. And there's no risk because you've hedged production at a frigin 110 cashflow per barrel.

REMEMBER, THEY HAVE 50-60 BUCKS A SHARE IN UNBOOKED RESERVES IN THE GROUND.