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Royale Energy Inc. Message Board

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  • luana2045 luana2045 Jun 11, 2011 11:43 AM Flag

    Only a matter of time before it hits $4 again

    $2.00 before any meaningful bounce IMO.

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    • I highly doubt we will see 2 bucks again this year unless the entire market and global economies go into the tank over the summer. If you are betting on that then wait for 2 bucks. I bought back in at $3.30 expecting a bounce but that was some bad timing. I should have waited for a retest of the $2.85-$2.90 level which we will see this week. I expect that level to hold as a double bottom which will stabilize the share price in the near term. If you look at the last six week sell-off in the overall market there was a solid bounce during the next four weeks. This company will have a banner year in 2011 in terms of production, earnings and cash flow. This will be the case with $90 crude and $4.50 Nat gas prices. 2nd quarter earnings are less than eight weeks from now. They will smash YOY numbers as Goodard II has been pouring out production since the end of February. This will be three full months of Goodard II production compared to 35 days of production in Q1. Not to mention the additional wells that went on-line during Q2. I am holding at least until Q2 earnings. I am expecting a huge blowout quarter creating a massive covering of shorts and huge rise in SP. Shorts are smart so they would be wise to cover in advance of earnings as all of these financial and production highlights I have mentioned are common knowledge.

0.73+0.03(+4.29%)3:59 PMEDT