RE:G and A is over-the-top Hey Oili,
I am a fiscally prudent person as well, but I also happy to pay for talent. This team is talented and they have projected and executed on the recompletion of the ARF very well. As well, with Abi now onboard the probability of further accretive deals is promising. I saw similar hand wringing over at VLE just before they did their 25,000 bbl/d acquisition and the stock went from $0.60 to over $3.00 a share As I said, pay for talent.
it seems to me that an oil company these days has to get up and over 20,000 bopd to get noticed. With TAG's 20 well program and projections of 1000 to 1400 bopd per well, that should get them noticed. Once that is in hand they still have about 3X the land on their existing leases that is prospective. That gives them room to move.
What I will say is their IR truly sucks! Have called and emailed them several times with no reply at all. They need to get a handle on this.
Perhaps you would know Oili, if you took the ARF area out to say 3/4 of the land holdings that are held by TAG that are prospective to have the ARF zone in place, how would this area compare to the size of their analog field the Eagle Ford?
It's still a ways away, but November could get very interesting. Just in time for Christmas ))
Cheers,
Doc.