I've followed numerous share offerings and usually the discounted price lasts only until the new share offering is completed. Then there is a bounce back. This is probably an opportunity for a windfall.
The sick part is that this same property showed a $71 million PV-10 in 2014. The percentage decline year over year was much greater than the other properties. I assume that means the Hugoton property requires a higher oil price to break even.
It would help to find out if a short term liquidity issue is in the cards. We still don't know the results of the credit facility re-determination. It was originally scheduled to be established around April 1.