May 14 Luncheon hosted by GeoResources
Posted: Fri May 14, 2010 6:11 pm
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
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