The California buy-in announcement several days ago was pretty impressive with good technical detail and I think a sign of good things to come.
John Begg at the helm, ex MD of Voyager, so pretty good credentials there.
$14million cash so no funding issues.....
Market cap is not cheap at $33m but with the above cash doesnt stack up to bad.
Drilling a 100 million barrel target before end of Dec05 of which it will have a not insignificant 25% stake. Should attract the leverage players once the calculators start working....
Then another big play next year.
There has been good follow-up buying since the announcement. Looks like it will have some momentum?
I was a buyer today based on this. Lets see what December brings....
An learned views on the prospects would be appreciated.
acturtle
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