Tax loss selling has taken its toll on this stock but presents good buying at 1,35; - pays dividend (12% forecast for 2008) - earnings per share around 20 cents, 43 cents forecast in 2008 - zero debt - brokers like them; valuation at $2.28 - $18 million cash flow - Enterprise Value versus 2P reserves of $7.13 per barrel .Looks like the best oil value right now - acquisitions being considered in gas business - only negative is perceived country risk as it is near Turkey-Kurdish border. But as somebody told me, PKK only bombs coffee shops, not oilfields. Oil production being going safely since 1960's and field has 25 years more of reserves
IPM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held