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

To: DELT1970 who wrote (159650)	11/12/2011 8:45:13 AM
From: Ed Ajootian	1 Recommendation Read Replies (1) \| Respond to of 206101

NiMin Energy (NNN.TO) -- to state the obvious, it looks like the hockey stick production projections made by the analysts earlier in the year are not bearing out. Now we have to sit and take the likely downgrades and/or price target reductions I guess. Not sure if this was a case of misunderstanding of the growth ramp by the analysts or just underperformance by the company, or some combination thereof. Not sure why they downplayed the $10M increase to the credit line. Only a vague reference to that in the PR, no formal disclosure of it in any of the filings. The quarterly report doesn't even contain a "Subsequent Events" footnote, whereas I always thought you had to put one in even if just to say that you had nothing to report. To me this is significant, since I believe a lot of folks (such as myself) were concerned that they would soon be running out of money with no choice but to raise more equity in order to keep drilling. Great to see that they have terminated drilling in WY. Based on the results there after about a year & a half of drilling it does not appear that the economics are nearly as robust as previously thought, especially in light of the depressed oil prices over there. Maybe the waterflood at Ferguson Ranch will turn that project around but we won't be getting even the first clues to the answer to that for many moons. Whenever they start to drill again I hope its in California. Good to hear that they are in advanced talks for a JV in CA. They have a great play going over there but need to join up with a better capitalized company in order to really see what that CMD could do.