RE: RE: UndervaluedDon't obsess too much about John O'Neill, the CFO, stumbling over one question. Anthony Mitchell answered all those questions in the conference call. He made it very clear how long testing was going to take on both wells 12-1 and 9-3, and how certification was expected in May. He also made clear that it is Ram management's responsiblitiy to plan for the worst: the company would need bridge financing if those wells don't certify as expected.
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I've been pleased by every one of management's moves since Hezy's resignation:
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1) The re-hiring of SKM and the appointing of Jim Lawless to the board was brilliant. The re-drill of 12-1 has been deemed by initial tests to be successful. The forking of the unperforming wells seems economic and makes sense. The acid wash of well 9-3 seems like a low-cost, innovative technique to improve its performance.
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2) The re-negotiation of the Geysers PPA for a higher electricity sales rate is excellent.
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3) The major work for SJT1 is complete, and the work that's left is completely funded. This baby is producing revenue next quarter.
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4) The communication with shareholders has improved.