RE: RE: RE: What will it take?Forgive me and please correct me if I am wrong, I definitely agree with you that the stock is underpriced. I am not sure if the stock has ever had a premium built reading there 2010 year end financials. I usually look at the NAV when dealing with a junior O&G company.
So from what I can tell the NAV from Year End 2010, the SP should be between 2.52 - 2.76. Exall web site says total outstanding shares 66.2 Mil. Outstanding share according to stockhouse Market Cap is 60.4 Mil.
I agree there is uncertainty in this market currently. But they have already had approval on other wells according to other posts here. So this waterflood approval they are waiting for should just be a formality. Any idea on how long it took for approval for this same thing last kick at the can,
I agree the increase in production will help SP but it shouldnt have dropped in the first place with oil around 100$ bbl. Its not like the production isnt there. They have proven it unlike OPC. EE is just waiting for the official to say turn the taps on your good to go.
Thoughts? I am open to here anything right now.
GLTA