Yep, going from 7.5 to 1 was not too bad, if you had bought puts to protect yourself
I think I will add tomorrow, Thursday, just to bail out somebody here. It's a call option now
He has the Seismic, Log, Geological, and offset drilling data, which we paid for, to take with him on the next capitalization. Matter of fact, I might invest in the next IPO he puts forward. As for us current commoners, we will get the debt minus assets, which is currently below zero. Hoping for the Saudis to cut production by 4 MM BOPD.
Just a snap back from a crash from 7 to 1 in 4 months. Nothing material that the company announced. Then the true reality of "debt up to our eyeballs" has gotten us back to a buck. In my opinion, if Saudi announces a 4 mm BOPD cut in oil production, and oil fires back to 100, SD will be hard pressed to participate beyond 2.5 bucks.
That;s what it looks like. issuing free shares by the millions, and continuing to pay max glory days salaries to the old Petrohawk crony bunch
Sale of assets at bargain basement prices, or stock dilution like HK. Either way,it just raises some more cash to distribute to key preferred holders, bankers and Oklahoma City power players