All sh'ers got their Annual Report last week. I sat down to read...

All sh'ers got their Annual Report last week. I sat down to read it on the weekend and was quite blown away on what they have planned.

They are steadily building a very impressive group of holdings across Texas. Later on this year, when Gracitas and Harrison 1 and Scott 2 all come on line for production, the company should start to generate some reasonable cashflow to offset what are going to be very considerable exploration costs across all their interests.

One thing I do like is that they are focussed on one general area (ie Texas) and are not going to spread themselves too wide geographically.

Also, note that they seem to have a large play coming up later in the year in the Rowena licence area. This could be a biggie.

I like the way these people are taking their time and spending some money on 3D and getting everything properly planned and mapped out, before proceeding with a drill.

Take some time and read the Annual Report. These shares are going well north.