The downside here is huge. REX is delayed. Storage is filling when it should be releasing. There is no parachute to Gas pricing, it's a linear line down for the foreseeable future. Hedges are rolling off. The BOD is not fully invested in the company.
I predict a sale when the common retreats to the $1 mark. If not then, somebody will need to deal with a relisting and that's not easy to accomplish these days. Who is the BOD going to market this to, that is the only remaining question.
Why so many cheerleaders in the face of obvious negative developments.
Oh, they own it. Are they hedged? Probably not. Will they suffer loss if it tanks and is acquired? Yes. Will it tank? Very likely since the production is being sold forward at lower and lower prices. Can Double Eagle float itself? They have credit but at a price that gets stiffer each quarter. Are there other E&P's that have hoards of cawh? Yes and they are looking to acquire. Does DBLE trade enough volume to appreciate quickly? No. Is the BOD solidly behind the company and it's operations? They might make a ton of money on a sale.
Just goes to show you that anybody can post on these boards...even people that don't know their ass from a hole in the ground....you obviously don't have a clue if you think this stock can go down to $1