I love all the shorts on this board. Not very original.
"Boo Garbage - Bad Stock"
Oil goes up - they make more money. Its a cheap oil play that wants to get it out of the ground. I don't the company, but if they ever re-issue the dividend - you're looking at a double.
fairly obvious low nat gas prices and Equals ongoing involvement in PED's BK has been a drag and I consider the latter to be the major culprit.
Arbitration is underway on the farmout agreement and a decision on whether it is valid or not can't come to soon as far as I'm concerned. We may still be 8 to 12 weeks away from a final resolution, but once that is put to bed I have confidence EQU will act much better for shareholders. jmo
It is no mistake, give or take a bit. The investment community is not noticing or if they do, skeptical. They do need to get production up as seem to be stuck at under 10k barrels per day, when this is now a "GROWTH" stock. That money which theoretically was distributions as a trust is now plowed back into the companies E & P program, and some was used to pay down debt. With the recent stock offering, there is even more cash for growth, yet production is stuck with lame excuses of mud and rain. I am still being patient, and will give them a couple of more quarters to realize appreciable growth.
Their PR is lousy, but sooner or later market price adjusts to fundamental value, even with poor PR.
The Senior Vice President in charge of drilling and, therefore, the one who should know best, spent about $1 million of his own money this year buying shares.
Not many stocks around where all you have to do is wait a few months and see a double from current prices. You will note that most of the drop in price took place on very low volume. The institutions are not selling. In fact the most recent share offering was over-subscribed.
There could be more selling to come on low volume, as we go through the tax loss selling season, but that will pass, and one can not try and time it.