It's trading like it's going out of business. This is completely foolish. As a bond holder, I would rather not be paid interest than lose my principal (especially in a near zero environment). Additionally, bond investors know that this is a man-made, artificially low price of crude because of geo political issues between USA, SA, Iran, Russia, etc. If the company can remain neutral on cash flow, it will survive the SA/Wall Street induced rout in oil prices and prosper when prices normalize.
I own this POS at $8.00/ share! I've lost a small fortune in these Canadian E&P's (BTE, ERF, PWE, PGH......). For all of the the assets that these companies have, they are super weak public companies. For all of the money that I've lost, I can't believe how much the execs are paid!
Down 13%? Who is selling here? why not just take a chance that it goes to zero?
I would like to know who sold their "real" long position today. This just seems too coordinated to be real market dynamics.
Same play book as before. People are sheep and don't use their brains.
doubt it. cmg is not heavily shorted as most people would have you believe. they were all killed on the rise from $300 to $750.
I don't think we're getting the truth. Too many geo political issues going on with oil producing countries to really know whats going on. This oil "glut" is completely intentional by SA if there is a glut at all. They are clearly trying to drive down the price of crude and many believe they don't have the capacity to create a world wide "glut" of oil.