I wrote yesterday, at less than 1/3 of "BOOK" value, if companies don't start buying some of these supposedly weak players, than there truly is very little value in any of these oil and energy companies. If other companies are not interested in picking up assets at less than half price, then the price was way overvalued to start with. Almost 7% down again today, just amazing, after 2 months of steadily going down.
The way the market is treating this stock it sure would appear so. Down almost 8% again today, trading at $8.85 as I type this. Are you kidding me? Priced at about 1/3 of book value. If companies don't start buying some of these cheap companies, then that tells you that there really is not much value in any of these oil or energy plays.