Erika and Henry, Stephen Hosmer isn't a sham, the new property recently acquired and its financing may be his top priority, rather than monitoring this board. I share your concern of frustration in waiting for news.
I am a shareholder and have participated in some of their drilling programs, and do the following when I need information. I contact their Public Relations department, i.e., Jack Connelly, a very open and responsive gentleman. I have met Jack and the Hosmers at the Atlanta Investment Conferences over several years, and eventually became a happy stockholder and participant in their Direct Working Interest Drilling Program. I know that they are drilling on one of the Bowerbank field wells for their 1997 programs, and usually make an announcement when the a well is finished, so this could possibly generate a news release around the end of July.
I suspect the stock price dropoff is a seasonality factor, and should recover in the fall and over the winter if natgas prices strengthen as usual. The stock looks attractively priced at these levels, given the price they are getting for their gas sales and being located next to a good marketplace. Natgas is now holding over $2+ which is good and should get improve as we get into colder times.
I suggest you call Jack Connelly at (619) 297-8505 and as he is resposive to questions from stockholders. Do both of you hold stock?
Best regards,
Wayne |
