how this stock can be worth $1.50 in 5yrs, page-30

Buffet....I respect your views and many of your posts. But an oil company doesn't just shut down once the well stops flowing mate. Especially if they've been making money along the way. DCF would be appropriate if this was the case. ie, you have a finite resource over a finite time. You are correct to an extent but seem to lack the future vision of what a company like this should be about. Why?

If samson makes $40M, $50M, $100M, $200M p.a. what would they do with that money? Pay dividends? Return it to shareholders and just close up shop? No....reinvest these funds, takeovers, land purchases....anything that will continue the growth of the company.

This is a company. It has no lifespan. The tap is supposed to run forever. The price of this particular black water will only go up.

I have been the first to say that $1.50 is EXTREMELY optimistic. But I don't think my assumptions have been too unrealistic. $70 oil? 280day production? 1000boepd (gene had initial rate of aroun 3000 and settled at around 1000 I believe), number of wells 50 (reduced from 100)?

So just maybe my assumptions ARE realistic (in fact maybe even conservative) and my methodology as good as anyone elses guess out there? In future I'll be sure not to put it in a forum for discussion.