Cash costs last year were $1.07. You're adding non-cash charges. I'm not. I'm looking just at the cash flow. They have an asset in TGGT they can monetize. They are not going broke unless natural gas stays at these prices, which they won't because the rigs are gone.
there is going to be a loss this quarter (15c best guess) and based on their own cap-ex, a decent cash hole which is not getting filled with credit. They have some cash, but can't use more than maybe 40mm....If i had to guess, WR saw the 10k and CC and put a gun to their head for a seat...costs and drills have to crash
In the meantime, if they have to mark proved down to the strip at the eo 2012, then 0 equity...
The stock is worth something someday, the problem is will you be there to get it....
The only thing keeping me holding onto shares is oil. If oil can break out above $110, I think natural gas has to rebound, because the trucking companies aren't going to pay $5 diesel without fighting back. Natural gas is the only cure to $5 diesel.
if one institutional holder decides to jump ship, the stock will tank. If one institutional holder decides to start adding, the stock will rise.
The question, where is the bottom??? I started adding to early but plan to keep adding in the near future., I am guessing a bottom in early August, maybe sooner. At that point supplies should hit close to an all time high, it could get ugly. Houses in the Northeast are converting everyday. companies are building natural gas powered trains, trucks will convert etc, oh and power plants.