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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: sam_n_cctx who wrote (33448)	7/8/2004 4:56:50 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 206113

sam, GMXR -- Great to see someone else interested in the stock that is my largest position. Its one of the few North American E&P's that I would feel comfortable buying right now (and in fact did, just yesterday). At the current quote, if you buy into management's projection that they will get their proved reserves up to 74 BCFE by 12/31, they are selling at an enterprise value of under $.80/mcfe. I challenge anyone to find me any stock trading cheaper on this metric. Now that they raised the cash need to drill the wells to prove up the reserves, the only real obstacle to them getting to their goal is gonna be finding (and keeping) a rig for their own drilling, plus getting their wells frac'd on a timely basis. These obstacles could impact only the timing of the eventual stock price appreciation, otherwise its a pretty much a lock IMO.