cant see the market cap of $150m justified

Cant see how the market cap (shares + options) can be justified from the figures release today.

Texas is going to produce it seems at only 4mmcf of gas and 290 barrels of oil a day. This is well short of the numbers talk about, the expectations of the fracturing increasing production three times, oil up to 1000 barrels etc etc etc.

25/2/10 the company reported flow rates of 3.3mmcf and 290 barrels. Fracturing was expected to "sharply increase initial rates from the various pay zones".

So after fracturing we have an additional 0.7mmcf gas and 30 barrels of oil of sales, not exactly spectacular.