I agree that now is the time to start buying. I am really amazed the stock price got this low. Have almost doubled my share holding over the last few days. Must admit though that I did not appreciate the negative sentiment produced by the Davidson sales, the accompanying commentary (Krmaer) and the long standing GPORpolicy of withholding news. Underneath it all however, it is a fact that GPOR production has been steadily increasing (see April 2 comments from Procilujko below), and that the average price GPOR received for this (sweet LA crude) production is above the $110/bbl they get for their hedged oil. They should have a good first Qtr earnings report compared to $.59 which was latest average analyst expectation. Probably no news from Utica drilling, but it is possible they could have I.P. results from first well when CC occurs early in May. Other good news could come from Permian production or Thailand. I look for a strong increase in share price as we approach early May earnings release barring any big declines in Crude price.
Totally agree that now is time to buy. Latest presentation (3/28) is on website, and there are a couple of new additions. Five well sites in Utica are now shown relative to CHK wells where Oil production ranges from 500 to 1400 bbls/da, along with 2-4 mil cf of NG. I am really looking forward to news from GPOR wells (probably in July). Three vertical well locations are shown for Niobrara that tested commercial quantities of oil together with the comment that GPOR is seeking additional acres and will drill 5-7 wells this here are very positive. Also remind us that horizontal wells in the Niobrara have much improved production over vertical unstimulated wells. Two rigs running in both Louisiana localities, and they almost always have a >90% success rate. Much that can happen to drive price higher from here.
thanks for the info. volcanman. One day when they really increase production we should surge 30-40 points. It's not a question of if but when. So i'll continue to buy on big pullbacks and sell some shares when we get to $37. I have absolutely no fear with this company.