stage is set for the biggest run of 2012, page-300

Possibly because the debut of Armour Energy has been less than stellar.

Nonetheless, AJQ market cap still makes EEG look cheap IMO.

We may be waiting a bit longer on the bureaucrat to work through his submissions regarding the NY State moratorium on fracking, however, the delay seems to have angered a lot of the landowners in NY state who are clearly pro fracturing, so, there is a limit as to how long they can drag out the process. It will get done. NY'ers are not likely to sit in silence whilst their neighbours , who sit over the border in PA, make millions by selling their land.

The 65,000 comments they have is a bit of a red herring IMO. A huge majority of these will be just peoples opinions and won't even warrant a response. There will be a very small % of valid objections and a number of supportive comments.

The message from the top (Obama) clearly states their preference for exploiting unconventional gas production. Cuomo (NY State governor) is quoted as saying it is a matter of "if not when." NY landowners look to make hundreds of millions (in some cases) by selling their land holdings. .... It seems unlikely that one department with a decreasing budget and a mounting degree of evidence as to the merits of hydraulic fracturing is likely to derail the process whilst their neighbouring states look to make billions in tax revenues.

Regardless, the company is still producing and delevering rapidly.... at 25c / 35c / 50c.... it provides investors with enormous optionality. Lenders have already funded the riskiest part of the story. This stocks register is changing from early investors to institutional holders and an eventual US listing will only accelerate the process.