Appears to be no bottom. I can't figure it out. Looking at Exco's most recent release, they plan to drill over 200 wells in the Haynesville, with the bulk of them in DeSoto Parish, which is where the bulk of QBC's acreage is. Furthermore, you can see in the presentation that the QBC acreage is in a nice fairway that is ringed with wells by Chesapeake and Exco.
With enough drilling credits to handle 3.5 wells, it is strange to see no support.
I think they are trying to take it lower as something big is on the horizon and those in the know want cheaper shares. That is the only logical explanation. I'm trying to pick up another 10k at .86 as I see something foul here. They are not getting my shares.
Up: Devils advocate says maybe "Something Big" is something bad. Someone dumping heavily today. The upcoming CC going to talk about dry wells? Delays? Bad hedges? Will we see the .55 on the other side of earnings?