Gale Force Petroluem released a statement Oct 31/2011 on their reserves and financial performance.

What I found very interesting was their Shareholder Equity at just over $10.4 million dollars, leading to a valuation of around 30 cents

It's currently trading at less than 17.

This seems like an easy investment. They are trading in low risk producing oil fields, large bank facilites at low interest rates, and a growth plan leveraged on stressed assets.

Thoughts?