I am not happy with what has happened to the stock the past month and a half. To claim otherwise would be just a tad stupid. However.

 

   I put all of my puny account into Coastal last November because I thought that over the next couple of years earnings and cash flow were going to go up dramatically and that there was a significant possibility of a buyout at a premium price during that two years. During the five months I have held the stock it has run up and down a lot but nothing has happened to the company itself to make me change my mind.

 

  This year Coastal will move from a company struggling to break even to a company with solid profits and cash flow. This year Coastal will get a second drilling rig into action. It ain't no sure thing but it is very likely that 2012 will end with production higher than the current 22,500 bod. Coastal has two concessions in the Gulf of Thailand which have a lot of ground for future drilling. Not every future exploratory well in them is going to be a dud. If management wanted to sell the company for 25 dollars a share they probably could do so in a few months. That they do not and instead continue to buy shares from time to time tells me something.