U.S. Energy Corp. (NASDAQ:USEG)
The Company is in the business of acquiring, exploring, developing and/or selling or leasing mineral and other properties.
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This company is partnered with Bringham Exploration, and Bringham has stated that it will drill more than 100 wells for this joint venture, a huge number for a company this size. While the early progress has been erratic, the company is on its way to building up a great cash flow. In the meantime it has partnered with Slawson exploration and other top industry partners. The balance sheet is a rock too. What more could you ask for?
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Cash rich with Molybdenum and oil project as kickers. The stock has limited downside and potential upside
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its really cool
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Management has been taking too much in bonuses and stock options; not leaving enough for the investors who have put a good portion of the funds for them to accomplish what they are doing.
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These guys are pulling lots of oil from the ground!
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Myst 3Cmb1 A xxx
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Hm! I need to keep an eye on this one and in the mean time here is my submit to caps.
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With the contracts in place for Williston with BEXP, and the probability for success, USEG will make a big move.
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Fantastic exploration results and prospects. Plus they've got a great increase in BOE/D panning out over this next year.
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just watch
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This is a solid company with very low debt and in a prime position to participate in a recently proven area of the Bakken/Three Forks Sanish producing area of North Dakota and Eastern Montana. The first well completed with BEXP as operator was a barn-burner at 2100 bbls. per day IP. Five more wells to be drilled and completed by year end '09 with three rigs presently working. Another five wells to be drilled after the first five with a total of 90 wells over time. Good management with a smart move into a hot oil producing area with very low risk. This company will outperform in a short time.
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