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An independent oil and gas company primarily engaged in the activities of acquiring, developing, exploiting, exploring and producing oil and gas properties in the United States.
With multiple new discoveries coming on line over the next 6 - 24 months, next year the cash will begin flowing into their bank account like never before! Hear me now but believe me sometime later.... by July 2011... $60+, by the end of 2011.... $70+, by mid 2012... north of $80. However, they must carefully manage their debt and take more conservative steps to not over indulge in new exploration activities until they improve the balance sheet. The good news is that even if they don't manage it as well as I think they should, they are will still hit $60 by the end of 2011. Therefore, I recommend buying the Jan 2012 Call Option, $35 (Buy to Open) in the $6 - $7 range.... you will be very happy that you did! When it goes to $60, that will be a 250% ROI (vs 100% if you bought the stock instead). I can live with that.
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