Lots of positive things coming, 4.5+ by the end of this week
Crossed back above 200 day ma, possibility of EF sale, short interest high, WTI oil 95+ with more upside. The upside/downside for the next 2-3 months seems to point to going long here. Just my opinion, any further thoughts or opinions on next 3 months?
If Gary decides to sell the EF....which he may not....but if this passes and it is sold, he'll get between 500-600 million....I'm thinking positively. 150 million to buy back debt, the rest to further his hold in the Utica. MHR will drill like they've never drilled before, and maybe, just maybe he'll start in on the Bakken and show some numbers from the north. The short interest is there but a pending sale of the EF could squash the shorts, but shorts have time and time again watched Gary add debt and more debt. I also suspect another JV deal is coming, we'll see, I have high hopes this first quarter but If the share price lags, I'll be in at a buy for shares under 4.10. We'll see....good luck to you all.
Let me ask, if MHR does start to drill/frac its Utica acreage, is there enough infrastructure (pipelines etc) to transport and/or store the oil? I'm not trying to shed any doubt on MHR. I am a shareholder and live in Ohio so have a vested interest in seeing MHR/Utica succeed.