So far the drilling of the Well hasn't hit any problems.
Last Week's drilling was very good.
Problems don't usually show up until the 15,000 feet Depth. The deeper you go; it seems more problems arises.
I am looking forward to see what size Casing is used next; PQ used a 20 inch Casing up to 4,500 feet. Usually PQ uses a 13 5/8 inch casing at approx. 13,000 feet depth.
-SeeThruEquity: Revised Target: US $0.66
-Finviz Target .52
-Zacks: Revised Target: US $0.51
-Casimir Capital: Initial Target: US $0.50
NYSE Post: (NYSEMKT:DEJ): Average Daily Production Surges Over 30% in 2Q14 and 1H14
8-10 Additional Wells start end Aug-Sept @ 3-4 drilled/ month + 8-16 in 2015_Kokopelli
Gas online Nov.
Is this good or bad news? Is it ahead or behind schedule?
Sold the holding 2800 PQ at 5.83, before it went up to 5.90, but now down at 5.86 and late in the day with 20 minutes to go. It's Friday, and the "boys" will put the money out now,,,,,I think.
Everyone have a good weekend.
Rusty in Metairie (New Orleans)
PQ bounced hard. Nice. I chickened out early on EXXI. Did not look strong. Now it is down quite a bit more. The company has quite a number of issues and could easily keep working its way down before finding a new area to settle. Was not even worth the risk of holding 1000 shares.
I stopped trading it for the most part quite some time ago because it did get more difficult to time the moves and the moves were weighted to the downside. I only traded it on that one day trade going into earnings and was so glad I sold before they announced. The chart looks very questionable here and, based on the way other companies in the sector are moving like SD, it looks like PQ is headed lower.
I am staying away for now. I did buy EXXI for a bounce. Will see how that works out tomorrow. I know nothing about the company. Did no research. Talk about throwing a dart and trying to catch a falling knife. Got in at the closing price of $15.97, but only 1000 shares. Kind of did it just for fun to see if I was right that it was oversold. If I am right, I figure it will be an easy $600-1000. If I am wrong, I figure I will lose about $400-500. So, OK, I liked the risk/reward.
But what I would really like is a quick little 30 cent pop. Then would probably sell and hope your 5 came true. Had my chance at that a few days ago and chickened out.
You may be right. It would be a nice trade for me, and anyone else for that matter, if I sold now and it did hit 5 in a couple of weeks. Could buy back and make a little back on my paper losses to this point. Do that a couple of times and I would be one happy little boy.
Who knows? Must be something rotten here. PQ is down nearly 30% in just a few weeks. I know energy stocks have taken a beating, but this is disproportionate, especially after the good run up it had. I was telling Rusty I could have sold almost every day the last couple of weeks and bought back cheaper next day. I keep expecting it to bottom and start climbing back up. Would really love to hit a couple of 30 cent spreads to soften the bitterness over what I could have had just 3 weeks ago. Would be great to see it go back to the pattern of a year or so ago when it just see sawed on a regular pattern, almost like on a schedule.
Look at the SD (Sandridge Energy) 1 year chart. Went from 52 week highs and plunged to the 52 week lows in last month. PQ appears to be following suit.
Have not been studying oil and gas sector, but something is rotten with the way they have been reacting recently. Looks like PQ is going to have trouble holding support in this $5.50 area. Next leg down takes it to right at $5. I think it may get there...and fast.
How similar is EXXI to PQ? Just found it down big on earnings and noticed they appear to have similar interests to PetroQuest. Could problems with EXXI execution be flowing over into concern with PQ's ability to perform?
New multi-year low for EXXI. What a dog!
Hi Rusty. Just wanted to add my wishes for a complete and rapid recovery. This continued plunge by PQ is enough to make anyone nauseous from dizziness. You sure didn't need the added health problem. Maybe it will turn around soon and make all of us feel better. Each day makes me sick I didn't sell the day before.
Rusty Wherever You Are: Don't trust just a single doctor, unless he presents you overwhelming evidence. your doc's probably right, just make sure it's not any of the other balance-robbing maladies. eg. Menier's; couple of other ones, including heart problems resulting in..... there's also one balance disease where surgeons end up giving people a shunt to drain water from the head to their stomachs...
So, here's to hoping You AND PQ head back UP! UP!
Sorry to hear that. Sounds like you were fortunate that it was not worse. Hopefully the dismal performance of PQ was not a contributing factor.
So glad it was not any worse than that and I hope you have a speedy recovery.
You shouldn't get so stressed out about these stocks. LOL
I am one to talk. I was stressing over MannKind the past couple of months and made the hard decision to sell my remaining shares at the open yesterday at around $10. Stock is sitting under $7.40 right now. Made the right call, but it is difficult to not get stressed when there is so much money at stake.