sp

The situation appears to be that the SP will not move foreward until the production rate is 10000 boe/d possibly end 2014 increasing to 15/18000 boe/d by 4th Q 2015.
The news in the last 6 months has been good ;
1.Increase in Reserves.
2.EFS acreage increased by 11500 acres at a good purchase price.
3.Substantial increase in bank facility.
4.Disposal of surplus acreage at good prices.
5.Virtually debt free with substantial cash on hand.
6.Current production showing healthy cash flow .
7. Revenue 2014 should be $225 million and Revenue for 2015 sould be $450 million.
This stock is undervalued and with top management has an exciting future.