Look down the road even a few months. Regardless of the current well, they will have 2 other drilling opportunities in the near future.
1 of 3 of these hit, back to $10+
Actually the banker is right on the hubris call...they could easily have sold shares at 15 and put 30 million bucks in the company register to use on rainy days...it was stupid...and i was stupid for holding on when i realized they were making a mistake...i believed the hype...i still have small confidence that these guys can get the oil out--big position here--small chance they pull it off... can"t blame the shorts for being right up there-- we were warned about these guys...i personally screwed up...but i'm still in...what difference does it make now...let's see what the news bring--when that news actually comes...BUT let's call a spade a spade fellas...we got hoodwinked BIG TIME...i wouldn't call the shorts brainless--i'd call 'em prescient...
Today we close at 4.20, monday we'll close at 4.06, tuesday we will close at 3.92, wednesday we will close at 3.78, Thursday we will close at 3.64, friday next week will will close at $3.50.