Good post Minerman. Very realistic for these times. Can we go lower? Sure why not. Anyone who has to sell or wants to will. And will pay the price with probably a huge loss. Thats why I mentioned the tax loss season.

With a market cap of under $50,000,000 and $30,000,000 cash in the bank (real cash for the bashers), thats like saying all of our properties are worth $20,000,000 right now combined. Is that a fair value right now for its potential size? Who knows. My bet is that it is not.

Heck $20,000,000 probably is the same amount that was spent drilling these properties todate. And that drilling continues.

Any price under 50 pennies basically means the properties are free and your buying cash with your cash. It can happen. And when it does, or if, I'll be there catching the ball.