buying opportunity
I believe we will be coming up to an opportunity to make some very good returns. That is buying shares under 10 cents.
Remember this company has some $5m in the bank and is producing oil. Their burn rate (cost to break even is low to none depending on the price of oil).
I anticipate that by the beginning of 2011, we will be seeing gas from the JV with Triangle. (30% of revenue after expenses)
We also have oil/gas opportunities of our own.
For me, it is a question of where is the bottom for oil/gas prices? As an indicator, I am looking for OPEC to come into the market and say they are cuting back on oil production to obtain a floor price.
What are your thoughts on this?
MEiffy