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Saratoga Resources, Inc. Common Message Board

  • diodia2000 diodia2000 Jun 28, 2013 4:34 PM Flag

    Large seller

    For the last week or so, a large seller has been getting out. Today the volume was 446,700 at 3.59 and then around $1,394,000 at the close. Last I looked it was $1.88 million after the close. I am hoping that whoever it is that is selling wishes to get out by the end of the quarter and is finishing up. Clearly a buyer was arranged for some of this.

    Maybe I am too stubborn,, but I still think that SARA is worth somewhere between $250 and $ 400 million, which means $4 to $9 a share. The delay in the tubing and drilling of Rocky is discouraging, but hopefully is just the normal delay from things taking longer than you hope. I would love to hear others' thoughts on the valuation and on the delay.

    There is an interesting discussion in the comments on the latest article on Seeking Alpha, that I think are too pessimistic, but it is hard to argue with them when the stock goes below $1.50.

0.17960.0000(0.00%)Aug 6 3:59 PMEDT