I started talking about DeeThree in 2011.  $3.  Most people politely ignored the posts, no one cared that much about them.  

And they ran into some operational problems, and by December, while other oil stocks were doing well...DeeThree was at $2 per share. 

 

But, funny thing when you have great assets.  Eventually, things start going your way, you get some market attention...and bam...DeeThree is $4.80 and everyone's a fan now. 

 

So what does this have to do with Arcan?  Well...here we are, trading at 1/2 our NAV, and near October lows, a week after drilling the best well to date in an area where we have more land and more wells for later this year...while Oil is $100 and the Canadian discount has dissapeared.  Would have to climb 30% to get back to where CPG bought shares.  50% to old highs, when it was producing less oil. 

 

But...we know the sweet spot is on Arcan's land.  We know the waterflood will be succesful given the history of waterfloods in the area, and is ramping up.  We know Q4 earnings and CF will put most of the "hot" resource play stories to shame...and we know that we'll be north of $10 a share in NAV, all light oil, Nov 2012.   

 

I've been buying, and I'll buy down to $4, and hopefully below that.  Because this is silly.