May 14 Luncheon hosted by GeoResources

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

May 14 Luncheon hosted by GeoResources

Post by dan_s »

We had 45 at today's luncheon which was hosted by Sweet-16 member GeoResources (GEOI).

I rate the stock a Strong Buy with a Fair Value of $21/share. See my forecast model under the Sweet-16 tab.

GEOI has a Strong Balance Sheet, steady production and reserve growth which is being funded by operating cash flows. They are a "Stealth Bakken Shale Play" plus they are building a position in the Eagleford Shale in Texas. The Eagleford is turning out to be one of the better shale plays with excellent economics at today's oil prices.

Dan
Dan Steffens
Energy Prospectus Group
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