I was wrong, again. I expected the RS would pass and the board would meet immediately after the shareholder meeting and RS the stock, which would cause an immediate value drop. The only hope would be if there was good news on the oil production or financing front, simultaneously. There was no doubt, to me, that the RS would cause a decline of market capitalization on its own. I also suspected that good news on its own, without talk of a RS, would cause the price to increase, other things being equal, like the market and price of oil.
Well, I was wrong. They didn't immediately act to RS the stock. Instead, they created uncertainty with the meeting and subsequent press releases and have not RS the stock nor come out with good production news. So, the uncertainty has created fear which has postponed buying, at best, causing the price to dwindle.
This is being poorly handled, in my opinion.