posted
As of March 31, 2008, the registrant had issued and outstanding 57,841,982 shares of common stock.
Haven't called the T/A to see if this is more, but the volume hasn't been great since that last report.
Assests listed on the last 10Q state only $1,055,000 or so, but I am trying to figure this out.
I know they only have a working percentage of 10 or 12 percent in their O&G prospects, but I would imagine the Barnett Shale acreage to be worth more than $1,000,000 alone.
This company has a nice past history of production, but it looks like now they have obligations to meet with Cornell Partners Group.
They claim they can operate minimally without any additional capital, but then in the next line it says, to expand operations they need more financing.
It seems this company could exapnd and capitalize on their reserves, but seem content with staying small, I don't get that.
Revenues were $593,000 JAN,FEB,MAR on $100.85 oil average.
I wish I know more, because this one seems way undervalued like the few others, and I haven't see any dilution in it and if there is only 57 million O/S with 18 percent being held inside, who knows.....
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Not sure how deep they are in But they showed decent revs for the first quarter I threw it a small bone just in case
Posts: 793 | Registered: Aug 2004
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I think the next report on their production is going to send this flying. There was only 3 oil plays that got my attention even NCEY has come back and saved face Now it's IGPGs turn
Posts: 793 | Registered: Aug 2004
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