RE: EDR resources/reserves.I'm familiar with the presentation, Moriarty's plug and
I've talked with Hugh and Gregg a couple of times.
I don't doubt that the potential is there, otherwise these
folks wouldn't be putting up so much money and effort.
I do believe it will help the stock in a substantial way when
they do some drilling and put up some numbers based
on what they know for certain is there. If they have something
proven I can't find it. I see no reserve numbers only projections.
Even Jason Hommell, who studies this stuff, states, "they don't
have large drill results or a resource calculation." Doesn't even
mention reserves. So he lists them under explorers even though
they are producers.
I spoke to Hugh about this some time ago, and he said he had
to contact Hommell to discuss it. So far, nothing has changed.
I'm sure EDR is working on this, as they know many investors
wait for some definite reserve numbers before jumping in.
The stock is acting better as of late. I'm about back to break even.
Perhaps more good news is forthcoming