Energas has finally gotten results from its' first well, the Finley State #1. Initial flow rates were 128 Bpd, and quickly climbes to 211Bpd. Later today, estimates were that it had climbed to 250 Bpd. All of this is without pumps, it is flowing on its' own. The company geologists are watching the well over this weekend, trying to determine the best way to fractionate the well.
They believe that frac'ing the well will double the flow rate, very possibly triple it. Nothing is certain, but this looks like a good play. Trading today was 866150 shares, closing at 0.60 up .13 and it had hit 0.65 as an intraday high.
There is excellent information at www.tandemcap.com and they have been following this stock for months. They have assembled some of the most impressive information regarding such a stock I have seen. You can read the actual geologist report right at their site.
With the way the market has been acting lately, it is refreshing to see positive response to positive news. The stock is expected to reach significantly higher levels, and the company plans to go on Nasdaq soon.
Take a good look at this one, I believe it will do VERY well.
I look forward to any comments, so please post any professional knowledge, or investor opinions.
Regards
Floyd |
