Like many others here, I am frustrated by the lack in price appreciation for UPL, given this rise in Natural Gas Prices. However, a thought occurred to me as I read an article about computers replacing investment analysts. My theory is that computer models may only recognize the reserves value based on the books. For UPL, this is the 2012 year end where they had to mark down to $2.63/mm. Perhaps their algorithms only consider the last documented reserve value? If this is the case, then we need to wait for the next opportunity to re-value the reserves. Can someone help me with when the reserves are marked to market? Is it a quarterly process or annual? I suspect it's annual, which could mean we need to wait until Feb. 2014 to see significant appreciation in PPS.
you must accept the FACT that brokerage firms are NOT your friends. do the opposite for most of them, especially the large ones.
UPL has much of their production hedged. as the hedges are increased or removed, the stock will rise.