After all the posts on today's news, I went back and read the news release. I didn't even see a reference to digging for new oil, rather it was about going for gas and exploiting any oil still there. PLUS a new disposal well opportunity.
You want a recap. Go to my post 1984 and 1986, nothing changed except there may be more oil/gas revenues and an excellent opportunity for more CLASS V REVENUES. If you recall, I didn't allocate large earnings for oil/gas. I view this acquisition as restricted chares FOR ANOTHER CLASS V WELL.
I will restate this until I turn blue. With no disrespect to the other subsidiaries, the near term future for this company is
ENVIROTEC ENVIROTEC ENVIROTEC ENVIROTEC
The joint venture with M3 will exploit the Class V and on that alone, it can be profitable, assuming they didn't pay a gazillion for the venture.
Any oil and gas recovered from this venture is icing on the cake compared to the Class V potential.
BTW, could someone explain to me why so many people read that news release and homed in on THE ONE AREA THAT IT WASN'T ABOUT, NAMELY OIL, and completely ignored the exploitation of the Class V and natural gas, which is what this news release was about.
Please please enlighten me if I am missing something here.
TraderGreg |
