What a disappointment this investment in CXPO has been. I fell hook, line and sinker for the company's assertion that the stock could be worth $20 or more in the future. Now they are selling the company for $3 and change. I'm down over 20% and there does not appear to be any way to recover. For what it's worth, I will vote against the merger with Contango. I doubt if it will make a difference though as I expect the merger to happen. I will end of with Contango stock. They are also another shady company that does not even give any guidance that I can see. What concern do these buffoons have for shareholders? We're screwed!
If your down 20% you have to go up 25% to break-even. Look to get your recovery elsewhere. USEG shares are much more levered to the Buda discovery than Crimson shares even before the MCF merger. The last presentation by Crimson showed the Buda was their most profitable drilling opportunity. My advice is swap your CXPO position for USEG and ride the Buda wells that way.