GREY:DONYF - Post by User
Post by
Dave4444on May 04, 2012 5:48pm
307 Views
Post# 19873880
Yes, cheap cheap shares, they have
Yes, cheap cheap shares, they have
a 50% interest in 16 sections where this latest well is located. Their presentation indicates 8 wells per section for a possible 128 total wells just in this area. The value of each well is about $12 after costs on a good well and so Donnycreek gets a 50% share or about $6 million profit per well. So possibility of 128 times 6 equals $750 million or so potential. Even with some share dilution to fund more drilling, the $11 million current market cap. is unbeleivably cheap and just shows that investors are missing the boat by thinking that when the market is poor they should avoid all stocks. I took a big position today and will wait for the market to wake up. Insiders own 40% of the company, and for good reason.