RougeTrader, Thanks again for your intellect. You are exactly...

RougeTrader,

Thanks again for your intellect. You are exactly right and I urge all to go back and read your post from yesterday. Once the hedging finishs at $70-72? and with oil hitting $104 today, who is going to continue selling at $72??? Answer is no one and by selling at close to $100 they will increase their profits by 100% when you factor in the fixed production costs with AGR.

You said it the potential here is enourmous:

1. Cash in hand
2. Debt Free and the security that goes with it
3. Experienced joint venture partner
4. Increased production and exploration
5. Oil prices hitting $104, hedging finishing and profits doubling. From an estimated 49% of $260M pa to say 49% of $450-$550M pa.

as a result we will see Market Cap going from the current $270M to a figure (indicative of a PE of say 12), lets say well over $1B to $2B. So potentially we are looking a jump of 4-8 times current SP. I might add too, not on any future premium but current activities and project announcement.

Will wait and see.