Weds, will unload the rest asap, my basis is 48........ me smells a rat, this is what happens when you #$%$ the market... should have sold when Walker was stammering and stuttering on Oil acreage above 15,000 per acre.... huh ? What ? Earth calling Mr Walker.... good luck, I'm out and maybe get big short next session... should have gone with my gut 5 dollars ago, my gut said run for the hills
Do you think Houser is lying? Walker? We had 2 Conference calls in the last week with no backing away from the closing by the end of the year and that the acreage has generated huge interest.
As for selling and shorting-- do you really envision significant downside from $60? That would suggest you think EVEP's Utica acreage is nearly unsaleable and they won't be selling it anytime soon. Go back again and look at where EVEP's acreage is compared to CHK, Gulfort, and Rex's wells are. How much of the acreage is in the wet gas window? How much in the oil window?
Even if you are right, are you selling ahead of the selloff ? Or are you selling after the smart money left?
If you are wrong, and Walker and Houser have been telling the truth, where will EVEP be?
Your perrogative if you want to sell. But after all of the decline from $76 to here, it would seem to be a panic trade and not one based on likely events. the time to sell would seem to have past. Do you think there is going to be no sale at all? EVEP trading flat to down the rest of the year?
For me, I don't see that. I see wells in the wet gas window finally being revealed and as good or better than advertised. Still see no wells at all in the oil window. I hear a company that has consistently said all year and as recently as last week that they will close on an asset swap in the next 6 weeks.
We'll know in a month either way. Good luck to you whatever you decide.
I don't think they can blatantly lie in a news conference. The SEC would be all over them. Of course not telling the truth or being quiet about the truth is a different thing. All in all I like my position here. so we are down $15, I'm still up over $30. Tax wise it doesn't make any sense to sell. I also need to say I'm here for the long haul, distributions will be here for a long time. In fact distributions are about the only thing I'm upset about. I believe they could have and should have raised them a year ago.