I am s long holder in WLL and NOG but my favorite Bakken play is GEOI


1. Only 16,2M ahares outstanding. ( Officers and insiders own about 45 % of outstanding shares)
2. Net PV10 asset value of $20,68/share.
3. Production average 3368 BOE/d in 2008 and 5054 BOE/d in October of 2009
4. Natural gas hedges of over $5 for 60% of there natural took effect starting ion July 2009.
5 In July 2009 banks extended GEOI credit facility to $250 Million
6. Company recently recieved severance tax exemption from state of Texas which will greatly benefit their natural gas fields.
7. Geoi is general parter with a 2% intrest in OKLA Energy Partnership with a 34%revisionary interest.
8. Geoi has a 30% General Prtership interest in SBE Partners LP with GE Capital holding the other 70%.
9. Estimated income from parterships alone in 2009 is managment fees of $1.1 million and Partenership income of $4.6 million
10. Great interest in the Bakken play with accelerating drilling. Two of there wells were
reported by Northern Oil and gas as the Coyote1-32H of 1500 Boe/d initial production
Geoi 5.4% interest. and MInx #1-28 with Geoi 9.9% working interest.at over 2400 BOE/D
(remember a 9.9% working interest is an equivelt of a 30% working intrest for NOG when you calculate interest per GEOI shares with only 16M shares outstanding.
11. Slawson is expanding from three rigs to four rigs in drilling wells with GEOI interest
12. Great Austin Chalk potential last well well completed th Longstreet #1 H with interest of 34% with an additional 15% partership income with first week procuction of 25MMCFPD per day and procuced over 1. BCFG in just 67 days. GEOI has numerous undrilled locations in this field with a well scheduled for the fourth quarter.
13. Numerous other plays waiting for a natural gas recover.
14. I think GEOI is a steal at current prices between $11 and !2

Disclosure I have a significant positon in GEOI so due your own research before you invest.

I think it is one of the best oil and gas I have seen at its current price.but I have been wrong before and this is a tough market.