rfe and jal same chart phenomena, page-6

Smart is right.

They bought 50,000 acres of land with 80 wells on it (that has probably had ten of millions spent on it) inc pipes, infrastructure etc for 11 million. Seems cheap to me.

Gilstrap and Miller appear key here as they seem to know how to profitably extract the gas from the Shale formations in EOK. The firm they bought the 80 wells from I suspect were lacking in this knowledge and probably did their model when gas prices were much higher than they are now. Maybe they ran out of money and decided to cut their losses?

A little re-working of those wells and some new wells drilled in the right places coupled with the existing land, the JV and Tulsa.

There is plenty to get excited about over the coming few months and as I posted the otherday, as soon as they get the news flowing AND revenues start to rise accordingly this will get re-rated. Til then we will probably stay range bound and will test those who watch the screen everyday.

I continue to hold