What will move the share price up to $6.00 before it goes to $4.85 will be a positive report on August 4, 2011. This up one day and down the next will continue until Hero shows they have what it takes to grow the revenue and show profit at the bottom line. We are getting close and I'm hoping good news comes out soon.
I think earnings are going to be "bleak" at best. Price of crude has dropped about 13% since last quarters earnings release.In the last three conference calls,price of crude has been a popular topic.If they are not making huge profits at $110+ bbl, how can they make a big profit at the $90ish level.Granted,they have a few more rigs to be accounted for,BUT they also have more cost to be factored in.Hercules will not make huge profits until the GOM is opened back up.And yes,I understand they drill in other parts of the world as well,BUT again GOM is their blood-line.