I'll sell when they do. Nothing more and nothing less. They have attempted to inform all investors, efts, mutual funds, traders, etc., of the disconnect in market cap and true enterprise value. The oil assets are on the balance sheet close to nothing and its so far from the truth. NG assets are worth way more than the deft alone. Everything is disclosed, so when they purchase even more at these ridiculous pps, it cannot be considered inside trading. Why the disconnect? Bond deals and tactics probably. Rest easy and when the deals close and darden speaks calculate the value before you sell. These assets are very very valuable and they plan to book then before an equity deal to pay off that nagging bond that's in the way. It's gonna be a very exciting fall and winter, and who knows, NG prices might actually rise a good bit and reserve value will grow exponentially as the presentation informed us. Asian country wants the gas at a low price before LNG exports kick in and drive it higher to balanced level with oil. Long the stock!
It's always the bonds when the price is manipulated like this and makes no sense in relation to the assets. This kind of situation is my favorite type of investment/long term trade. I use my bankruptcy background to evaluate the likelihood of that and then take a good sized position and wait. I have a huge position in Dryships (DRYS), same thing. Usually before the moneyball hits, I am questioning my sanity for ever buying in ;) but these things have always paid off and paid off big. Sometimes you have to wait a year or more - no problem.