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Gerkin,
Firstly let me tell you I’m no expert in this field of stocks, but have got to understand this particular stock through the pain of losing money over the last 2 years (mostly paper losses that are now showing good paper profits). Over this time I have got to know some of the people running the company and when you’re sitting on big losses as I was and then you see all the directors buying up big it does give you peace of mind that the companies not going broke tomorrow – and it did cross my mind!
To try answer item 1 – what I wrote was mentioned to me exactly as I wrote it in my post – is this correct, I/we don’t know! The pre-drill potential of 2-20 BCF, is this per well or per the whole Prospect – I would have taken this as the Harrison 1 well only (Wilson had Harrison 1 well at 4-12 bcf) then further into the Wilson report (1st Nov 06) it has the following; Oyster Creek - Harrison 1 = 8 bcf then prospects 1 & 2 also each at 8 bcf. The timing of this report was after Harrison well struck gas and 3 months later we still don’t know how much gas they’ve found or the number of wells they may now be planning, may be the comment made to me is an update to their currant thoughts.
Item 2 – Yes I don’t argue with your blue sky comment but isn’t that similar to what we have now 2 good prospects in Oyster & Garcitas and all the other prospects are the blue sky – as with item 1 this was the comment made to me.
With all the other info re flow rates etc you clearly understand this field better than my self, as I relay on others to guide me.
One item that people are commenting on are the shares taken up by Acorn – lets not underestimate the importance of this and read between the lines, this company takes vary limited risks which is a step above the speculators we are in buying AZZ before it had any drill success, they have visited the US drill sites meet with management and perhaps know a little/lot more than we do on the perceived findings. Also the shares have gone from 60-70 cents and now today 92cents with no news? Now if any of my earlier comments have some truth then we could start to justify the SP increase – food for thought?
PS the directors have managed the news vary vary well so far allowing the SP to build in bursts (15%-25% increases) then consolidation for 3 to 4 weeks before the next run which may be a far better way than the huge one day increase only to see the lows tested the following week. Will we see a $1 SP this week – my thoughts are that we’ll get close.
Keep up the good posts & good luck.