JT: as someone who claims to want energy independence for Israel your gloating glee over the drop in Adira's stock price is truly disgusting (and hypocritical).
That said, this is a classic story of "good company, #$%$ stock". Adira's management is truly first-rate and they have done good work in an incredibly cut-throat industry. Unfortunately, it appears they lack the resources to play hardball with some of the more established O&G powers in the region.
Hopefully, Adira will up the ante and leverage some of their other viable licenses into a compelling near-term value proposition or possible acquire new rights in promising offshore license areas where they don't have to "swim with sharks".
SUV, you misjudge again my friend. How can there be glee, I own Adira too but I have also grown much wiser as to what is going on with the various companies drilling for oil. I specifically warned this could happen while you touted Modiin as a partner with deep pockets. The selling off of license interests should have been a huge warning flag but many walk around with blinders and earplugs. Recently, I put out a warning about Zion Oil, all who are interested should take note and know I do not do this for fun. I would much rather cheer on these companies than put out warnings. Do not be too quick to kick against the goads.