After researching well production on SONRIS and SARA's Breton Sound field production, I sold my position at $2.61 after buying at $1.47. On some of the fields, production looks to be down almost 50%. I am by no means and Oil and Gas expert, but if what I am seeing is true (in terms of oil / gas production), SARA is efficiently priced based on BV. This is a shame because I really wanted to go long on this company, but I could not overlook the well data from SONRIS.
This year looks to be better, as the odds are increasing that there will not be a hurricane, so the company should get through the fall just fine. If you review their press releases, they had some third party issues, and some other hurricane damage from last year, that took a little while to overcome.
But supposedly as of the end of the second quarter, that stuff is behind them.
We just need to find out how the new horizontals are doing.