ERF has lost so much capitalization that it is not a large portion of my portfolio any longer. Thus massive percent losses don't affect the overall investment mix as much. Bring it on, I'll ride this to hell if I have to.
The upside of the downside is pretty simple. ERF is not a candidate for bankruptcy or a rapidly falling dividend. Oil prices are never going to zero or anything resembling zero. ERF's assets in the ground become revenue when extracted. ERF 's dividend flow may vary somewhat but not significantly. As current share prices go lower, its a buy that should pay off nicely in the future.