this company has yet to go up with the current run in oil prices, the investors seem to irrationally hate the stock at the moment.
the fact of the matter is that we already know a lot about the cash flow of the current quarter from the statement, 2 million more of their debt was paid off, and it seems from that, that their production is holding up nicely.
they are probably either preparing to be acquired or to make some type of acquisition themselves, that's what I would do in their position.
I'm thinking there is a perfectly rational reason for not going up with the run in oil prices. Nothing irrational about it. 2012 earnings were just ZEROED. YOY reserves went the wrong way. And more, but you can read.