Michael Fitzsimmons
Oil & gas, dividend investing, research analyst

Miller Energy: Lawsuits, Debt, And Unhappy Shareholders - Sell It

Miller Energy Resources (NYSE:MILL) is a small cap oil and gas E&P company headquartered in Knoxville, TN. MILL is focused on the Cook Inlet area in Alaska. While recent quarterly production and revenue numbers were up nicely, the company is not profitable and there are several other warnings flags.

The slide below was taken from a recent company presentation and does a fairly decent job of summing up key company metrics:

(click to enlarge)

Assets

    Alaska Operations: 2,855 boe/d of production as of 4/28/14 (95% of total production). Infrastructure includes processing and storage capacity. North Fork Acquisition (Alaska): ~ 9.8 MMcf/day of production as of 4/28/14. Several wells chocked back. PV-10=$94.5 million; 2P PV-10 over $185 Million. Tennessee: ...
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