I still hold a little bit of exxi, but sold a large chunk of my exxi shares last year. It is getting to a level where it may be good to start accumulating again. I may start selling some otm puts at 26 or 25 strike prices. Always thought JS paints too rosy of a picture at his presentations - one where everything must go right to even have a chance of making. We all know that in the O&G business, that stuff happens. That being said, I do think that he knows how to run a O&G company and should continue to be successful.
share price seems to be pointing to problems at pendragon.
I tend to agree with you. I was out for a while, but bought back in once the MMR sale to FCX was announced. I feel that sale now guarantees success in the UD and that EXXI has ZERO SUD in the price. Since buying the PPS has dropped $5 and I am not happy about it. However, I think that EXXI has huge upside potential and I have heard that exploratory drilling has been held up by uncommonly bad weather in the GOM over the last couple of months.
JS most certainly does tend to be overly optimistic and that, after a while, does a disservice to shareholders as he has let the story become stale by too often overhyping it ... the boy who cried Wolf...and all that!!!
If Schiller, Marchive or Griffen buys in the open market, I'll be a buyer but not until they show us that there won't be a capital call to fund exploration, development and the repair of the infrastructure acquired in the Exxon deal.