You are getting the benefit of a management team who has proven their expertise in adding production and growth through acquisitions. It did not participate in the run. Name is not that well known yet. It got hit yesterday even though it was a non-event. $8 target factors in acquisitions we don’t yet know about.

You are paying for the management team on this stock. These guys are experts in oil. Brought production from 525 bpd up to 4000 through acquisitions.

Still likes it. Likes it as a single entity that will split. $80 oil this time next year; $5-6 for Gas.

Just went up 26%. They can decide to stop drilling for Gas and start drilling for oil. Buy 20% of what you want and wait 6 weeks on the rest. It will come off 10% in a month.

(Top Pick Sept 5/08, Down 9.6%) Happy about the split. No one pays any attention to their properties. You have more upside than you see in their stock price.

Great conventional assets. Decent hedge position, but balance sheet is rather hefty. It is a stock that you should trade because it is at risk of following the price of gas. If you own, consider taking some profits and then get back in later.

Diverse portfolio. Now is not a bad time to accumulate. You have the benefit of a lower multiple.