Lets educate you. The best return on investment would be to sell more assets, even at a reduced valuation and bought back stock in the $.45 to $.55 range, which could then be resold once WTI recovers in the $5 to $6 price range. Thats a hell of a lot better than the pitiful returns they typical give on the assets!!!! Do the math!
I expected a better quarter. They missed on both revenue and earnings. They also reduced 2016 BOE by a huge number going forward. It was also disappointing to see that they didn't take advantage of the $.40's to buy back any shares. Their only interest is to stay afloat to where they can continue to draw a salary. The damn company has near 550,000,000 shares outstanding and has no interest in buy any back at any price. That's not what I call managing PGH for the shareholders. Its called keeping a job for management.