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Gold/Mining/Energy : Shale Natural Gas, Oil and NGLs and ESA
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To: jrhana who wrote (178)1/7/2009 12:28:37 PM
From: jrhana   of 6160
 
This article in the West Virginia press illustrates one of the problems ESA has in promoting itself.

<The earnings per share for the year were 26 cents per share basic and 21 cents per share fully diluted, compared to 13 cents and 11 cents, respectively, for last year.>

Many have the habit of just skimming articles like this and these earnings are on the surface unimpressive. But for almost all this time, ESA itself was just a shell company fighting to emerge from the complicated world of SPAC investing.

The appropriate number is to look at is of course $1.03/share full diluted compared to $.59/share the year before-all proforma assuming ESDA had already completed its acquisitions.

The figure of $.26 really has no bearing on ESA's performance but it is the figure they have to announce.

ESA is sort of the anti-GM kind of company. They keep expenses done to a bare minimum with no corporate jets or bloated union contracts. So they haven't wanted to spend money on IR and promotion.

But they are aware of the problem and will be addressing it over time.

The main hype on this company has come from me in my little niche here on SI. So folks, once more ESA is both a tremendous value play and a great growth stock. These prices won't last forever.
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