when I first found sea.ax or sdcjf around 4 1/2 years ago the stock was trading at around .12-15 US and production was around 750 boepd. Fast forward to present when there is 2x the shares
outstanding, but the production in reality is a steady 8000 boepd and the stock in the US is around .25. We are so lucky that we have a management that has been stellar and has never
missed a beat. Know saw this downward draft in Oil and if they said they did- they lie!
I think we have some 30 wells that have not been completed, 100 million available credit,
limited and very control debt, great hedges and a management team that continues to "steal"
acreage at fire sale price just as they did back in 2009 when they most likely bought acreage
in the Bakken for $100/acre versus selling it at $10,000.00/acre. Don't under estimate this
management team-- they have not taken their eye off the ball. It will happen again when
oil prices surge either because of a major disruption in the Middle East or demand out strips
supply. I assume that some $500 billion of capex within the oil and gas industry has been
cancelled and the piper will pay the price one of these days. The key is too hang on and buy
the diamonds and in my humble opinion SEA.AX or SDCJF is near perfection!
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