RE:RE:Mackie Research target $10.85It is the seesaw between long term investors and short term investors. I look at this news as well as the Feb news release that shows a long term gas contract and I feel better knowing that they have the gas. Also, when the new contract kicks in at the end of Dec 2015, it will mean ~ $55 mm/yr in cashflow, so at a 4 to 5 times cashflow basis, it should mean ~ $2/share for the stock in Dec 2015.
December 2015 is a long way away, so CNE only gets a small amount of credit for the gas find since there is no immediate finacial impact. The thing is, you can either chase the short term investor by putting out a steady stream of news or you can chase the long term investor and put out monthly production and operations updates. CNE is drilling the right wells, now they just have to get them on production more efficiently and give stop chasing short term investors.