Just had lunch with Dean and Spiro. I really like the story and I really like the people involved. I will do a bit more DD over the w-e, but I think that this is a very compelling story.
- The cap structure is tight and the s/o is low
- $13MM in the bank and roughly $0.40/share cash flow as production began in Fen 2010
- A resource base that is small, but has very strong historicals which will be expanded on.
For a mkt cap of $50MM, this looks very interesting indeed.