If anyone here actually truely read the news and filings, they will see what I see. To me this is as much of a no brainer as it comes. The valuation of this company to its shareholders is tremendous.
All u guys worried about dilution, lets take absolute worst case scenario, lets say there are 100 million shares outstanding "which isn't the case" but lets just say it. We still have a dollar stock short term just on the current announced production numbers and if Iran continues its arm wrestle and oil does go to 100 dollars a barrel, then UPDA could be several dollars a share on conservative valuation levels.
I think the whole reason we are not at a dollar yet is because shareholders are waiting to see where the dilution to fund well development ends and that in my opinion is the ONLY thing holding us back from fair valuation so far.
So far if it costs 500,000 to drill a well and the well produces 30 million, id say thats a hell of a return and a great reason to dilute for.
Now heres the kicker, I think our top end is 58 to 60 million shares, because I think they now have enough recurring daily cash flows to grow internally. I think they now have enough recurring income to drill more wells from existing production and hence will not request equity funding. And this is the time to be invested, the "pie" doesn't grow any more but income does and earnings per share does and hence our share values will.
Think aboout it, I know I did.
