OK Will, I agree a stock buy-back might work for a month or so, but it won't last.
The company will simply be swimming against the "tide" of increasing crude oil supplies and lowering prices, it simply doesn't have enough power (cash) to overcome it. It's like a rip tide, you don't try to beat it, you simply try to swim across it to get out of the rip.
I think JackB is right, pushing money into a stock-buyback commodity company that's heading down is the wrong move for any company.
The slides' been greased already, no way to "stop/suspend/ameliorate" the downward direction, there's simply too much built-in momentum in the "down" direction (Lots of "cheap/hungry" producers of crude that NEED cash NOW. They will continue to pump/sell as much as they can for whatever they can; add in more bbls/day from Iran within the next 12 months, and the continuing diminution of the world economies, there's simply a very large over supply of crude for at least the next 12-18 months). There's no way EGY can "buyback" enough shares to do anything at all to prevent this downturn in the stock price.
I may have to lower my "doubling" price from $1.25/share. That's OK. I've got a slightly longer term perspective. Don't need the cash now, nor in the next 2-3 years. The only thing that would change my perspective is if the "greens" actually come up with a better alternative energy model in the next 18 months.
SonOfT, it's simply part of a plot by the major buyers/sellers of stocks to bankrupt you. They've had you in their sights for awhile now. I'm guessing that they're getting of tired of waiting...
Hey Happy, I agree about the "dime-a-dozen" comment, and about the "public enemy #1" comment. I really hate to say this simply because I'm fearful of giving any "kudos" to the supporters of the "Trump".
I don't want to go off on a rant now about the "Trump", it would only fuel the fires of discontent from his adherents on this board.
But I do have one good thing to say about the Trump... It appears that the magical re-appearance of the "Trump" as a later-day presidential candidate has punched a button with Berke Breathed who's bringing back a later-day "Bloom County" comic strip. Even though it's a Monday, it's a pretty good day!
I guess this is simply one more version of the old adage, "Money talks, BS walks" (or runs in this case).
"El Chapo" had the money (and the organization to put it use), and enough BS to walk/run.
If they corner this guy again, I hope that the Mexican authorities don't make the same mistake of taking him alive (or at least hide that fact if they do).
JBnj, I don't do alcohol any more, finally figured out that it wasn't all the good for me. Drink coffee, hot/cold tea, and water now, that's it.
I also own no guns, have no wish at all to kill any other living creature. I cut my own hair with a pair of scissors and a razor.
All of this may sound strange, but I simply don't care about these issues any more.
I'd recommend that you and all others buy gold/silver with what ever free dollars you have and store that bullion away somewhere other then a bank safety deposit vault.
Personally, I don't trust ANY world-level government with my savings at this time. Look what's happening with the Euro now. This same thing is bound to happen across the whole world.
Do you think that China, Europe, USA will survive the coming onslaught?
We've got over 7 billion people loose on the surface of this world today. And many millions of people running away from really screwed up governments to other countries of supposed safety. This is the main reason why the mid-East is so F-upped, and why Europe will become more #$%$ over time.
It's also why the USA will become more F Upped, as it's simply a haven for any sane refugee. We either inculcate them into our belief systems, or simply say, what the hell, let then go there own way.
In my opinion Europe is doomed, it's simply the only "safe" haven for all of the refugees escaping the Muslim harangue in the mid-east. And all of those mid-east people escaping to there will simply poison all of Europe, they won't be able to help doing so because of their "religious" beliefs.
Truthfully, I don't trust any "religious" beliefs. In my opinion, they're simply chimera constructed to support whatever religious system is at that time in charge of society. Believe what you will, it's ok with me.
The only real issue here to my minds eye is just "how" to support me and my kids into the future.
Not really sure that gold/silver are the right way, but I'm pretty sure that what's being recommend is wrong, or at least not quite right.
A lot of crude oil producers out there in the world now. And some newbies looking to break into the market (mainly Iran).
Most of these producers NEED money/cash to stay alive/in-business. A lot of crude supply being generated and already stored, and Decreasing demand as economies are spinning down at this point. A lot of crude-oil producers are hungry to sell whatever they can at any price near break-even production costs.
Near term outlook for crude oil prices is pretty bleak (maybe we should start a board game of picking the low $/bbl within the next 6 months? My stupid guess is we'll see low-30's by October).
In answer to your question, "where is the bottom to this thing?", worst case (not very likely), $0/share.
I think it's going to get quite a bit more worse before it starts getting better.
In this kind of market what you're betting on is just how long the crude-producers can sustain their production to the market at losses, and just how long the demand will continue to drop before it stabilizes.
Personally, I'm going to hold the shares I currently own, and if EGY dips below $1.25/share, will double my investment. Long term, unless the green-energy complex makes a bigger breakthrough, oil will be ok.
Sorry to tell you this JBnj,
But the "plan" is suck our money from all new investors, leave them broke/penniless. This plan was developed earlier this year in response to the comments on the EGY Yahoo message board by JC14/et al.
EGY management figured it was past time to spank the idiots, all those brain-dead posters who don't know a rats butt about what they're talking about.
I'll be holding my current shares, because I've not all the much invested, and am willing to watch this effort play out.
Sell/Buy More/Hold? Your choice. good LUCK!
I'm really getting tired of the idiots posting on this board....
"Proven Right Once Again"????
What is your problem SonOfT? Is this Yahoo message board for EGY the only recourse you've got left to be "right"?
If so, then I apologize for all of my former disses. OF COURSE YOU'RE RIGHT!
JC14, I think the feds should be inspecting your "domicile" if for no other reason then as a preventive measure, sort of a prophylactic.
Based on your continued rantings you seem at least 3-sigma sick to me. Maybe you're ok. But I wouldn't bet on it, and I want to have at least any neighbors you might have warned about your ravings, just to give them a chance to survive what-ever blowup you eventually evince.
Idiots are loose around the world. Some of then appear here on the Yahoo message boards.
JC SonOfTut, were you born this stupid or did you just work your way down to it?
"The perfect storm.".... what are you smoking?
Well, hell, never mind. You appear to be so paranoid that any whisper of wind in the leaves outside your door will have you running outside to dive into the hole you've dug in the backyard.
Why don't you just "flirt" with the stock market? Simply ignore the politicians of whatever ilk?
Who cares what any of the "pols" state? They're simply sucking up to whatever media tit they can to give them more substance/money.
I don't trust any politician any farther then I could throw them, and I'm pretty old/weak now, so if unless they're two foot away from me (3 inches for the NJ governor), I can't believe a word any of them says.
I'm holding for now. Bowed out of the "trading" cycle when things just went too weird. Am just accumulating cash now till I see things starting to make sense.
Don't take any of my advice. I'm ahead of the "game" generally, but I've made BIG mistakes in the past. More careful now.
Idiot traders? Hedge-fund slight of hands?
Perhaps one of the biggest mistakes stock traders make is to assume that the stock-market follows a Newtonian mechanics like pattern of behavior, fix-rules/laws for all time.
These "fixed" periods of behavior hold some time intervals, not all. When they don't hold then the stock markets seem to adhere to a quantum mechanical like regime, Einsteins bogy-man of probabilistic outcomes.
We may now be in a quantum mechanical stock market universe...
Deal with it.
What the hell do you expect from a politician dancing to the politic? Just a question.
Personally, I don't see any real difference between all of the currently available "candidates". They all seem to be "courting" however they can any vote they can acquire.
Afterthought, the only candidate to my mines eye that doesn't seem to be "dancing" this tune is that old-time guy from Vermont, the throwback. Wouldn't vote for him myself, but like the reality spice he adds to the mix.