They are buying old debt that's near par, swapping 8% short-term debt for 3% infinite-term debt, hoping the price of oil will be above 40 before they run out of money. They are struggling to stay afloat.
Are you the one who bought a few thousand at 20? Didn't you hear the Saudi oil minister say they were going to keep pumping until the friggin' frackers were run out of business?
You loose. It is not likely that they will be relisted on the OTC or pink sheets. They need a market maker to sponsor them.
You can have your broker close your position at Zero when your position becomes worthless. I.e: The cost of selling is greater than the value of the asset.
There isn't enough short interest to impact the price. 1.9 days to cover is nothing. Oil prices are not going up any time soon.
The chart for WLL and oil indicates that we have reached an oversold condition. No guarantees. But, a reasonable person might conclude that we will experience price appreciation through most of next week. This is working out for me. Last Friday my short calls were assigned, giving me a short position. This Friday my short puts will probably get assigned, closing the short position. I like getting paid a premium for trading the stock.
That debt is realized in the base share price. The basic driver is the price of oil, until the next earnings report. A long term investor would need to consider the impact of continued borrowing for the purpose of keeping afloat. Motley Fool dissed them. So, WLL may be in better shape then you might think.
That was a share swap and debt assumption. It is hard to say that the old WLL would be any better off than the new WLL. The current WLL can tread water at $50 oil- per CC. How would the old WLL be any better?
Well, It went down further than I thought. My short calls are valueless after 1 day--viz. easy money. I do hope it stays above 15.
Figures never lie, but liars sure can figure. You should stick with crunching peanuts.