where's angry, page-3

it has been quiet, so not much to say.

they just have to drill and put the numbers on the board.

we have seen reports of weather conditions over there but they will be spring soon and sure things will pick up.

look they have large reserves, and wells,
what they don't seem to have is competent drillers to re work those wells, well not the pace I would like.

The jewel in their hands is Kansas, by far the largest reserves and they haven't started on that yet, so upside potential.

On the downside they have a secretary who is part time due to cost savings, but is doing a very poor job, wont go into reasons here, but if things were done better we would see a better picture.

At Kansas they have 100 mill barrels of oil reserves, and say they can recover 35 to 45% of it,
So what is 35 mill barrels at say $50 a barrel, they own 100% of this unlike Ky-Tenn

35 mill at 50, I make that $1.75 bill,
now even just a quarter of that is 437 mill, or more than a dollar per share.

then ky-tenn, gas and more.

Look I have seen a report which values Kansas at more than $1.50 per share alone.
not hard to work out how on above fugues.

So why is it 6 cents per share, because they have so far failed to pump any decent amounts,
and Kansas has not even started.

I would be getting my own rigs, I would raise money to buy some and then not rely on others, but then I don't mind getting my hands dirty.

I have a production background and people management, hell I know nothing about drilling wells but I think I could get more drilled than them.

So they have not kicked many goals, but ask yourself, with those reserves what would they be worth to someone else, a lot more than what they are trading at now.

If they can get a lot more wells drilled, and we don't know how many are in production now, obviously more than we last heard, but when more production, and I would be looking fr 500 bopd, then they start to becomes a serious producer.

They have the reserves, and wells to do this in a short period of time, as long as they can perform, then from there they can increase on a monthly basis.

They are a slow and steady outfit, which should be pushed along I think.

Anyway you can see by my Kansas figures there is a lot of upside, and large upside, but it will take time.

6 cents though is plain crazy.