My thoughts Royalties are nearly 50% of revenues. Thats crazy.
Reserves are $6M (from sedar) or a net asset value of 8 cents. Essentially a 50 cent share gets you 8 cents of oil and gas.
Why doesn't the company report oil production in a BOE/D as their peers do.
They don't report cash flow from operations as their peers do. They overstate it by including changes in working capital.
I calculate cash flow from operations for Q4 to be negative. How is that good?
Also seems weird that they are based in Vancouver.
Current website presentation (Nov 2012) only provides production for April 2012. Thats 6 months ago.
Powerpoint presentations contains more quotes from newsletter publishers than discussion about their properties, production etc.
My 2 cents.