Started buying it in Nov 1999 kept reinvesting dividends and adding on the dips. Some dips have for example in 2007 been lower than this one. Anyway PWE is one of my larger holdings and I currently have a serine feeling about the direction of the company now with no worries and expect continued appreciation in the near term
Sorry to hear about your loss. Im even more troubled by what lies ahead for you. I would diversify and get out of this ASAP. There are much better oil plays than this. Ask Warren B. He knows where the good investment in this area is.
macnaughtonr, PWE has been sufficiently nuked that it probably can't get much worse. The bar is set pretty low, so if PWE can merely meet management's guidance for 2014, it will likely rally next year on anticipation of improvement in 2015. This year PWE is a "bleeding dog" for sure. It's doing a corporate reset over the next 12 months or so. So, if your investment horizon is 2 or 3 years, it's a compelling investment simply because the stock is so cheap and unloved.
Dean - I would say if you have that short a horizon, perhaps an big E&P company that has access to Brent Prices and Downstream is better--XOM,CVX, TOT, etc. But of course, you have to consider how much longer, if any time at all, the commodity super cycle has left in it?