browse basin, page-6

i looked at these, mog, bas, a couple of others on their jv lists,

but you ask the question, they have no money, will certainly expect massive dillution to raise capitol, and have no earnings.

SPEC. They are a true spec, that will burn a hole in their shareholders pockets.

A stock, needs a chance, in reality, to become cash flow positive.

Take out the hype, the fools who rush in, (although there is a momentum play there on their backs), and ask, how are these guys going to fund, and drill, and what happens,if they get a duster?

It happens to to the best of them, so ask then, where to?

Looking at their Undiscovered estimate. I hate that word, its as bad as YET to FIND catagory.

What is that? lets pick out one numbers range 720-4217 bcf,

notably they apply a 6% risk factor to reduce those to prospective resource.

But we're talking 94% chance of nothing.

Just thought id post that opinion, and wont hang around making a nuisance.

For mine, while i retain an archive of a few of these, i'll not press new dollars at them.

I've directed to lower risk, low cost, accumulative plays, OR actual producers, who could, have realistic chances of cash flow positve positions.

I've enough with the hungry specs.

cheers and good luck, hope they find that 6%.