I sold today.
Looks to me like they paid.. At Least 10x sales for current property based on production. Maybe considerably higher if it wasn't 100% Oil production. (iow, dilutive)
Yes they can increase but they Also paid too much for reserves IMO.
So I'm out today, 20.95
AS I said.
This co was at best Idiotic, at worst....
Hope you didn't have too many shares. If you sold 1,000 shares at $20.95 you only left $300.00+ on the table. You probably spend that for lunch. ;-)
I nailed actually.
I expect bad things here.
The barrons article I bought it from sucks
These guys are just selling units and buying property at ANY price IMO.
the sht will eventually hit the fan