I think the Q1 numbers for Cobra are going to be a lot better than the market expects. If you compare Q3 to Q4, the company had a $75k loss and then ended up with a $113k profit, call it $190k profit in Q4 with $75 oil average. Revenue went from $900k to $1.6 mil. Q1 is from December-February, so I would expect at least a $300k profit or 2 cents EPS. But if they got another well or two producing, it could be a lot more.
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I think the Q1 numbers for Cobra are going to be a lot better...
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