Energy Prospectus

Fourth quarter results beat my forecast, except for the charge for doubtful accounts receivable. More important, the outlook for this year is even stronger.

I will update my forecast after I listen to the conference call tomorrow. You should all pay very close attention to what they say about Seamap. The profit margin on those systems is HUGE.

My current Fair Value estimate for MIND is $16.50 and this is likely to go up.

MIND is virtually debt free (current assets exceed total liablities) and it is on track to generate over $3.50/share in cash flow next year. Let's buy it and take the company private!

Seamap is the key to a GREAT YEAR for this one. Pay very close attention to want they say about Seamap equipment sales on the conference call tomorrow.

MIND has been in our Sweet 16 since 2004. In 2005-2006 it ran up to about $25/share. It is in much better shape today.