All production is in Columbia, and we would consider risks to have increased a little bit in the past 12 months. The stock is cheap, but has not enjoyed the sector rally. While debt is 'manageable' at 2X cash flow, it is much higher than most, and investors these days prefer dividends and buybacks. GTE recently did an exchange offer to extend its debt maturities. Cash flow is decent, and growth is expected next year. BUT...historical results have been all over the map. Insiders own 3% and there has been small net buying this year. Considering its size, negative momentum, debt and other risks, it doesn't compare well to most others in the sector right now.
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