Hello everyone,
This is a stock that I have been holding for a while and I was wondering if I could get some opinions about it on here. They deal with oil and gas and the company seems to be growing at a slow, yet constant pace. They are a low cost producer based in the Southern United States and all their drilling is financed through several joint venture partners that pay for everything just about. One of the directors own the drilling contract company they use, so costs are reduced. Most of these wells are shallow verticals that produce anywhere from 50bopd to 150bopd and KFG takes a cut of the production and a monthly management fee to maintain these wells. There is no bank debt, just payables.
Last quarter the company announced an average cost per barrel of $18.85c. They sell this production at LLS(Louisiana Light Sweet) pricing which is equivalent to Brent.
Here is some of their financial information:
Common Shares: 50,584,144 with no options or warrants
Insider Ownership: 16.5%
Institutions Buying: Dearborn Partners LLC(Chicago)
Price: $0.09c
Cash: $2.13 million US (Last year was $1.2 million)
Total Assets: $3.7 million (Last year was $3 million)
Total Liabilities: $1.06 million ( Last year was $880k)
Last quarter production: 105bopd (Last year was 75bopd)
- KFG just finished a 98bopd well which gave them an extra 21bopd
- They announced in March that they'll be doing 5 wells this summer
This year KFG has done $2.3 million in revenue with a $493,000 net income or almost $0.01c earnings per share.
This is a stock that I have been holding for a while and I was wondering if I could get some opinions about it on here. They deal with oil and gas and the company seems to be growing at a slow, yet constant pace. They are a low cost producer based in the Southern United States and all their drilling is financed through several joint venture partners that pay for everything just about. One of the directors own the drilling contract company they use, so costs are reduced. Most of these wells are shallow verticals that produce anywhere from 50bopd to 150bopd and KFG takes a cut of the production and a monthly management fee to maintain these wells. There is no bank debt, just payables.
Last quarter the company announced an average cost per barrel of $18.85c. They sell this production at LLS(Louisiana Light Sweet) pricing which is equivalent to Brent.
Here is some of their financial information:
Common Shares: 50,584,144 with no options or warrants
Insider Ownership: 16.5%
Institutions Buying: Dearborn Partners LLC(Chicago)
Price: $0.09c
Cash: $2.13 million US (Last year was $1.2 million)
Total Assets: $3.7 million (Last year was $3 million)
Total Liabilities: $1.06 million ( Last year was $880k)
Last quarter production: 105bopd (Last year was 75bopd)
- KFG just finished a 98bopd well which gave them an extra 21bopd
- They announced in March that they'll be doing 5 wells this summer
This year KFG has done $2.3 million in revenue with a $493,000 net income or almost $0.01c earnings per share.
