There's been allot of shares going through Canaccord in the last 7 months. Looks like 1.1 million bought, .9 million sold. Could be some heavy in house trading as well. If this guy's selling out, and if he started buying in October, he could still be sitting on as many as 5 - 6 hundred thousand shares, and that's assuming he accounted for about 60% of the trading.
By the way, what's Benz's working interest for Howell #1 and Byrd 31 - 1 # 1?
I'm trying to put together total gas production for their current wells, so far all I have is just what was on the release the other day.
Do you know what their cash/bills looks like? With the Oakvale Dome and Byrd #1 alone they're looking at a gross of around 1.24 million per month US. That is, if the Byrd 1 is all theirs.
If the Fortenberry #1 drops in at 25 mmcf/d at 75%, then add that to the Howell #1 at 17 mmcf/d, then we'd be seeing total net production on all 4 wells of around 42 mmcf/d. At 2 bucks per thousand, that's 2.5 million per month, or 30 million per year, or nearly a buck per share.
Their expenses must be HUGE for their stock to only be trading at their current levels. What's wrong with this picture?
Russ |
