last week's postTax loss selling has taken its toll on this...

last week's post



Tax loss selling has taken its toll on this stock but presents good buying at 1,35;
- pays dividend (12% forecast for 2008)
- earnings per share around 20 cents, 43 cents forecast in 2008
- zero debt
- brokers like them; valuation at $2.28
- $18 million cash flow
- Enterprise Value versus 2P reserves of $7.13 per barrel .Looks like the best oil value right now
- acquisitions being considered in gas business
- only negative is perceived country risk as it is near Turkey-Kurdish border. But as somebody told me, PKK only bombs coffee shops, not oilfields. Oil production being going safely since 1960's and field has 25 years more of reserves