Gnorth,

welcome, I have read your post and although i don't have any projections hanging around for Q3 (going to need to work that out, things have changed alot with the Dyas transactions), the bottom line is that this company is going to generate cash flow.

They have started commercial productioin back in May and have not disappointed me in the least.

Now that they are debt free (but gave up 50% of the Jacky and Beatrice output to get there), I can see much opportunity.

Only owning one block at 100% is because in my opinion, the North Sea is crowded and claims have been made all over, if you want to advance a project you need to make deals. Hence the recent deal with Maersk for the Stella operation.

I think that the market just needs to see cash flow for a few quarters before a proper evaluation is made. If they don't see any rise in SP/market cap, they will become a pretty good takeover target IMO.

Hopefully we should be over a buck by the end of the year. I think a reasonable price to cash flow was around 1.30. I have to work the numbers again, and I will post that, but it is a busy time for me right now, so it will be slow.

Andy