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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Salt'n'Peppa who wrote (141549)11/2/2010 4:38:05 PM
From: Ed Ajootian3 Recommendations  Read Replies (1) of 206302
 
S&P -- Endeavour (END) -- I bought a significant amount more shares of this stock today. The company is in the middle of a big transition -- the old END was a North Sea exploration company, whereas the new END will be a company with basically all of its North Sea exploration completed, with some huge development projects there, plus some great resource plays going in the US.

I believe the old END had refrained from doing a reverse split because they were trying to keep themselves comparable to the other North Sea exploration companies, who typically trade on the AIM and/or TSX, and who typically have massive amounts of shares out and small share prices. This is no longer relevant, so its time to grow up.

Also, all indications are that the company will start generating positive earnings by next year at the latest. Analyst consensus for '11 is for earnings of $.01 per share for the year. Once 3Q comes out, most analysts start breaking out next year's projection into quarters. Its kinda hard to break up $.01 into 4 quarters. <g>

I believe analyst projections for next year's earnings/cashflow are way too low, since I don't believe they understand how much gas this company can produce for next year, and how profitable the sale of such gas could be. At $4 gas I believe their Haynesville wells would pay out in about a year or so.

I was encouraged by how well the stock price was holding up in spite of this morning's announcement, so I stepped in and bought a lot of stock.
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