I had a 1/2 hour conversation with management the other day as...

I had a 1/2 hour conversation with management the other day as well. We all know that there is 192 million in debt and we also know that there are at present around 29 million proven barrels of oil
The value of that oil is between 12 and 15 in the ground so that gives us a true valuation of 350-400 million worth (the p2 andp3 are not being valued- hidden value-) This give us a real value minus the debt of 192 million a share price if sold around .30-.35/share-- a far cry from current levels. This
valuation is in US dollars not AU! The roopeople get an extra bonus if sold! Management has been
approached by a select group, but management continues to believe that they can grow the company, but if the price is right the company could be sold. If sold @ .35 US that is almost 6x times the current price. The debt situation is not an issue according to management for around 2 years. They have every intend to reduce debt by selling parts of the recent acquisition that put them into this situation.
Eric bought acreage when there was zero interest! He got us out of the Bakken into the Eagleford( very
smart move). He is an extraordinary Oilman that will not let us down. The debt load is an issue , but
don't let this cloud the huge upside potential. He has reduced overhead by 30% and reduce capex expense dramatically as well. Management cannot buy stock now because they are in quiet period - meaning -- this means to me that a deal of sorts is pending or they are working on the sale of some
acreage recently purchased. Eric and the team have done an excellent job growing this company from 900 boepd to 8000 boepd! The management team bought into the Bakken @ bargain prices and sold for lottery winnings. They moved into the Eagleford and have "cherry acreage!" This team has the stuff that can weather the storm and if they cannot them they will sell the company for at least .30-.35 + the debt. This assumes that oil does not firm. If the environment changes buying sea or sdcjf could easily turn into a homerun.
Know one on this planet could have seen that oil was going to go from 117/barrel to 33/barrel in a
little over 1 year! Thing can change very rapidly and oil could change course if a crisis in the ME happened.
We remain extremely bullish toward sea or sdcjf and believe that at current levels there is NO risk!