have i missed something

overlooked this stock, started buying this week. gone over most available info. main risks seems to be reserve replacement, but still doesn't account for the crazy market cap which can be justified by China reserves alone. Burnt through a lot of cash with dusters, but thats part of the game.

seems well managed coy with plenty of prospects. fantastic profit margins , can see why the offshore Gulf leases are so attractive

exploration front a little dull next few months until they drill the Viola prospect

hedging is good, they deliver to the hedge book when ng is weak and can sell spot into the rallies

still could get cheaper from here, but happy to accumulate next few months...

all the small oilgas plays are in the same boat. Either oil is heading back to $50, or the markets got it totally wrong with these stocks