This stock seems way oversold to me. It still produces over 42k BOED and that by itself should result in a higher stock price, even with management constantly missing their production targets. I am sure there is some lack of faith in Schiller these days but that can't be the only reason for the drop. I only hope that they are not having drilling issues with Pedragon or other wells. Seems like a very attractive entry point to me...
Because it is a scam company....it is the equivalent of a couple of companies touted by Wall St years ago that also failed--Globalstar and Loral....you had a couple of pump and dumpers pitching this stock and the CEO--Bernard Schwartz--just as they are doing with this piece of #$%$ company which is why I am shorting it and we will see this stock in the teens by the middle of May....Globalstar was a pipe dream of based on telephony via satellites 3 miles above the ground....EXXI is a pipe dream of oil in the opposite direction
I believe anyone buying at these levels will be happy a few years from now. They have so many irons in the fire, I imagine a few of them will be successful, notwithstanding their horizontal drilling program.
EXXI has a close companion among the offshore shelf drillers in the penalty box, WTI. I suppose the analysts have figured out that WTI's March quarter will also be nothing to write home about.