SplainNice overview....but what strikes me is the more simple...

Splain

Nice overview....but what strikes me is the more simple view....$2.5mUS/m ($3.3m) free cash flow on a market cap (excluding the shares in ARW) of around $130m. That's a Price to cashflow ratio of 3.25!!!!!!!!!!! + extensive organic growth through $12m of annual drilling of new wells where they get a very high strike rate because it is not wild cat drilling .

Got to be worth $2 every day of the week.

Also, I seem to recall they have some ground where they are drilling in early 2006, which has highly prospective high volume reserves, and which could double their reserves...potential for 5m barrels of oil and 5 billion cubic feet of gas.......the South Grosse tete prospect.

I expect some further upward action after tomorrow's AGM, and then more once Shaw's issue their next broker analysis.

Loving it!!