Twin Butte Energy Ltd TBTEF

RE: PANIC>>>>>

[bshort92]

For the record I have been invested in TBE for some time. They did have a CEO who at one time resigned probably by being forced out due to putting too much emphasis on TBE's previously owned NG properties in British Columbia pre NG price cratering and pre Alberta royalty regulation reform. It happened. I'm not going into a history lesson.. TBE has gotten their act together enough to break $3 a share. I'm disappointed by the whole market overreacting to this Libya nonsense. Anyone with half a brain knows that Libya will be a better world citizen once Gaddafi is deposed. I do like CR. Remember that they have $212 million of debt. 85 million shares out, a year end projected production of 22,000 BOE/d and a market cap of about $1.6 billion based on close to a $20 a share price and reserves of about 75 million barrels booked. TBE has about $86 million of debt, 132 million shares out, a year end projected production of 8500 BOE/d and a market cap of about $350 million on a $2.92 a share price and about 38 million barrels of reserves booked. Add all this up and I conclude CR is either over valued or TBE is under valued. CR gets loads of coverage TBE gets very little. They both are drilling at Princess targeting Pekisko medium oil. CR is set to produce close to 8000 boe/d there on there 100% WI wells. TBE is just getting started on their play  with a 65% WI. I'm mad but I am not panicked. I thought the share price would spike as oil prices did figuring that most E&P's make more $ when the price of oil is good. I mean isn't that why NG is a chump business seeing that its price is under $4  per mmcf. So pardon my anger. At least TBE didn't get hit today like CR did. In the end the share price should go up but hey maybe a spike downward in oil prces will fuel this next leg up. Go figure.