for this.Especially when anybody with even a below average IQ could see the company did nothing but shift revenues to get the so called "excellent " Q2 results.
Heavily adding to my short position every day to take advantage of the abnormal and unwarranted trading levels.
I will thank the simple minded egy buyers at a later date.
Well JC14, you sound like you have a big heart in willing to in the future acknowledge the "simple minded egy buyers" (What happened to "peons"? Did you bow to "political correctness"?) who paved the way to your increase in "wealth".
Please hold tight to the company's Q2 results, and the evident subterfuge that it represents. And please keep on shorting the company as much as you can.
I don't care whether you have to borrow the funds from your senile dad (who thinks he cremated your remains in a 55 gallon drum near the crick behind his trailer, - maybe you can apply for federal "supper funds" to help clean up the mess that your cremation left behind and apply those to your shorting expedition) or sell your not-quite-so-bright-son to a medical institution for whatever experiments they see as reasonable for the betterment of mankind (they may just agree by them selves that cremating him in the same barrel your dad employed with supper-hot fuel might be the best use for humanity, just a guess on my part). Whatever you have to do to re-establish a new short position on EGY, please DO IT.
We simple-minded buyers/peons are relying on you.
Best of Luck....
I am not senile. That was JC13 that I cremated the other day in the 55 gallon drum, just like I cremated JC's 1-12 before him. JC14 is the only one left, and I can assure you that his cremation time will come very very soon. On the other hand, JC14 has been talking in anger about stowing away on a boat to West Africa to sabotage some oil wells somewhere, so he'll probably catch Ebola from monkey sex and not make it home for his cremation. Regardless, I suspect that his days are numbered any way you look at it.
There's more blind simple minded investors out there today destined to lose their money than anyone could ever shake a stick at.
Its like shooting fish in a barrel for the astute investors to take advantage of their naive stupidity.
This is so true it needed to be reposted. How could you get caught having all the information ahead of time. That is like telling a kid the stove is hot and they still reach out to touch it. They get burnt just like JC and his buddies.
"Have to admit I'm surprised you can get caught in a short squeeze that was absolutely predestined to happen given the production profile and be too stupid to see it "
I'm surprised JC doesn't acknowledge the shorts are the buyers (buying to cover). If the August 15 short interest doesn't show a significant reduction in the 6.3 million shares short interest as reported on July 31 - EGY's share price is going much higher. When EGY makes a new high all the shorts are holding losing investment positions. I definitely agree, I never understood the basis of a short position based on the down time from scheduled maintenance. H1 2014 revenues are as projected Q1 lower and Q2 higher than expected. Doubling the drill slots on the two new platforms doubles production capacity. The real upside for EGY is the 100 mmbo OOIP from SEENT and the 700 mmbo exploration assume 40% net to EGY (280 mmbo) upside x $25 /bbl 2P NPV = + $132 / share unrisked upside x a risk factor. Risking the new tow platform production slots at 90% is + 100% and risking the 700 mmbo at a 10% COS is + 100% , risking Kindele -1 at 60% (RBC Capital) is another + 50% in upside.
Without seeing the August 15 short interest its hard to project how high EGY's share price will go before the shorts are falling over themselves to buy your shares - which will look like price capitulation on high volume for a couple of days and the short interest dropping from 6.3 million to maybe 3.1 million.