+ Watch MILL
on My Watchlist
They are burning through cash at an extremely rapid pace and sitting at close to an all time share price high. With their recent acquisition of North Fork they are in dire need of additional cash, which I am pretty sure will come from another large dilutive financing. They may be ok in the long term, but in the short term the stock has probably reached a peak.
Lawsuits notwithstanding, Miller's Alaskan assets have the real potential for significant production.
The rebuttal of allegations will come in the form of increased production and sales. The Osprey platform will be drilling again around Thanksgiving and payoff by mid January. If it produces according to projections or better, then one must begin to trust their reserve estimates.
The shorts have had their moment, and the sharks are attempting to grap their pound of flesh, but when all is said and done, there is oil and gas in the Miller resource bank. They will continue to produce oil and gas, they bought these assets on the cheap, and they have a thirsty market for their gas. They will produce huge profits for their shareholders, of which I am one. I will continue to add to my position,as i believe they are selling for less than book value at these prices.
The amended and certified audit by KPMG confirmed the reserves and there was no or minimal corrections to the audit in question by Streetsweepers. This is public knowledge and why was that not mentioned by Motley Fool? Pls advise.
its a buy
reserves no existing in the property of the company in Alaska, as the drillings should prove in the coming months.
This company is a joke.
Street Sweeper negative Report. Seems to be fraudulently valuing assets on the books.http://thestreetsweeper.org/undersurveillance/Miller_Energy__Is_This_Hot__Alaska__Stock_about_to_Melt_
Slow mover but expect to outperform79 64 8375 26 100
Rapid growth potential.
Based Huntsville, TenesseeConsidering standard financial metrics, this stock is a miracle.Reading the Ultralongs blog on how it achieved that - by revaluation, when they boughtbankrupt property and revaluate it. This certainly is not O.K. and something is stinking here.Accounting can be very creative part, and this is clear example.If you buy land for 1M and revalue it to 492M then I'd like to see the fool, who buys that from you for the new price. I really do.
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