Little Hoggy is looking pretty attractive to me at current...

Little Hoggy is looking pretty attractive to me at current prices. It has the luxury of the Ukraine needing to buy enery irrespective so it ??shouldnt?? be hit by lower enrgy prices we are seeing elsewhere.

They have $15M cash with net income coming into to fund development, exploration and administration. With Chets not too far off now, even if its only half as good as #1 then little HOG should be powering by then.

$7.68M gross income for the quarter.
Admin is running at around $1M for each quarter
Exploration this quarter was $2M
Production cost where $3.6M

Next quarter they are projected to be
Admin $1.2M for the quarter
Exploration this quarter is $4.1M
Production cost will be $2.6M
If we assume theres hold ups and Chets doesnt come on line this quarter we should finish the quarter with around $15.2M - $1.2M - $4.1M - $2.6M = $7.3 M + Revenue of approx $7M = around $14.3M

Using this logic little HOG is basically a net producer without Chets. If Chets comes online this quarter or next we can imo expect it to be around $17M - $20M at the end of this quarter. If its delayed we will be around the $15M - $20M at then end of Q1 2012.

By that stage imo we will have around $12- $15M revenu with costs of say exploration $4M, Production $4m and admin $1.3M per quarter. Giving us a net figure of around 4-7m per quarter = $12M - $28M per annum. Convert that using a PE of approx 12-14 and you get an mcap of approx $144M - $392M. not bad for a company currently reporting an mcap of around 60M.

Interesting times ahead. "If" things go well could be a multi bagger, especially at these prices.