Not to say it won't head lower, but who knows why it's been trending down. Technical seem to work, mostly in hindsight. The reserves report that came out today was strong with reserves as of 12/31/12 up 16% yoy. The guidence on Dec 11, for production and cash flow for 2013 was positive also with nice yoy increases. Personally I think it could be the political concerns. However TGA been over there for many years, through other political ups and downs, so these concerns seem overdone. I think the stock is a strong buy here at $8.27, and I'll be adding again should it drop to $8 or less.
"Personally I think it could be the political concerns."
You think so? A facility gets overrun by terrorists, people get killed, and maybe the drop is due to political concerns?
I have just a little TGA, I was thinking the Morsi stuff would be calmed down by now, but the attack has just made it worse.
TGA is not a buy, or an add, until they know things are safe, which may not be ever, but Egypt could send some of their military down to the oil fields to protect the drillers, and make a big production about it. Instead, they are talking about Israel, probably thinking about offense, not defense.
Anyway, I'm stuck in a very bad stock, I don't see 10 again for a while, and I hope I'm very wrong...