Hi Marty, Bob, Ngo, and ALL,
I felt an agreement that has already been negotiated could be worth checking into. I called H.J. Gruy and Associates
this morning in Houston. The receptionist told me that client information was private and confidential, but I explained that I was only trying to check on public information released on the wires yesterday. She transferred me to a Vice-President ( his name will remain anonymous, although known to me) and he stated that the engineer handling NAMX's account was not available, but that he was familiar with the Nebraskan gas wells and that Gruy & Assoc., in fact has a client relationship with NAMX. I think the d/b/a name may be a NAMX sub.,
but this was not confirmed. At any rate,
the reservoir analysis will commence as soon as Gruy receives the test data NAMX stated would be sent immediately. I asked my Gruy & Assoc. contact whether he would mind a follow-up phone call to
confirm the resevoir analysis which he agreed to. I let him know I would probably call back in about a week or two. Since I'm fairly newbie here, please let me know if you have reservations about this DD on my part.
Next time I think of any DD, I think it would be better to run it by the thread participants first, just to kick the idea around some before any action.
As you all know, I like using TA on any stock, penny or otherwise. Today looks
good with the smooth line type rally taking shape. There's absolutely nothing wrong with moving up and then moving sideways for a day or more. Also, today was the day to contend with "the sell on good news" phenomena, and NAMX held up very well in light of this. The stock's price is at the 200 day moving average
(approx. 1/8), and any move above it would signal a fundamental shift in trend direction. Of course, I already think that any downtrend has been exasperated, and at worst, some sideways channeling may take place. The recent continuous volume suggests an uptrend may be in the works, and some fundamental factors that may start to become discounted to the upside would be:
1.Increases in the minimum reservoir estimates over and above the 23 Bcf.
2. H.J. Gruy & Associates' reservoir analysis, late Jan.
3.Hookup of the initial 3 wells to the KN lines (BTW, KN serves more than 100,000 gas customers in Nebraska in 173
communities)
4.Results from 14 more test drill sites, late Feb.
5.Financial reporting and 12(g) compliance, Jan.-Mar. |
