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John Polomny
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John Polomny is an individual investor and speculator seeking unique, overlooked, and well researched opportunities and speculations from all over the world.
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  • Tag Oil Update 2 comments
    Jun 8, 2013 2:44 PM | about stocks: TAOIF

    If you got into Tag Oil when I was writing about it a few months ago you are probably a bit upset with the recent drop in price after the company missed on production after the new infrastructure tie in. The stock got shelled when production came in at 2700 boe/d and people were expecting around 5000 boe/d. Nevertheless I am still relatively positive for the following reasons.

    1. Still have additional (6) wells to tie in
    2. The company will be drilling (10) additional wells by year end
    3. East Coast blue sky (potential Bakken) still in play
    4. Company is cashflow positive and making money

    Here is a good write up of the current situation. The other fact I like is the company is buying back stock. The company is cashed up, has a lot of land that appears to be prospective, and if the East Coast hits the stock will soar. I think it is worth sticking around to see what happens. This is only for those with the highest risk tolerances though.

    Disclosure: I am long OTCQX:TAOIF.

    Stocks: TAOIF
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  • jpau
    , contributor
    Comments (850) | Send Message
     
    John, what did you think of results?
    28 Jun 2013, 10:04 AM Reply Like
  • John Polomny
    , contributor
    Comments (521) | Send Message
     
    Author’s reply » I need to listen to the call and I will update my view.
    28 Jun 2013, 10:44 AM Reply Like
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