How can we still be sitting below $4???????? ( $3.98 at time of writing) This news means Miller just saved $5 million a year from buying outside gas. They also can sell any extra gas for more profit. Tenn wells so far look promising. They will get 40% percent refund from state of Alaska. ( this is is based on information posted earlier in this message board) Not sure when short pressure to cover will arrive but I am guessing $5 range. I agree, when that short pressure arrives the price will jump through the roof. Sorry for any stupid assumptions on my part, but I am flabbergasted.
Problem is that Mill needs a lot more gas and oil to break even. The TENN well is on hold for EPA approval to pump as per new release, and will that take days, weeks or months. This is a good start, but only 1 well in a row that is flowing. What ever happened to the last well that MILL was swabbing?
Patience Glasshopper, Patience, Bearish fund managers could have presets to automaticly to go short when the price per share goes up to $4.All the while shorts that got in late are covering. RU 4 is not the only well and does not determine Mill'sfuture.I think that RU4 was working before and something went on the fritz.There are always a few who dont get the right answer -even when they have all the facts.
wait a couple of days.Shorts have to buy in to cover.Someone (misguided befuddled fund manager?)has a huge "buy in" to cover and he is working at buying in now, and in days t come.Others will recieve a call from their broker today or tomarrow please send a check to cover their position.If shortie doesnt buy in, the broker will sell off other assets.Rome wasnt razed in a day ,but when it got razed, it stayed razed..To all shorts...Walmart is hiring.