I think will come from a buyout. HK was bought out. The big oil companies will move in when the price starts going up. These little E&P companies never mature. They get bought out. Mobil or Exxon bought Texaco when oil was $14 a barrel.
Does anyone know at what point UPL has to mark their reserves to market on the upswing? That will hit their P&L as a credit and their assets as a debit and although not a thing changed one day to the next that will kill the shorts. That is also another possible huge gain event. It is the reversing of the writing down that occurred when ng value went down. Just like the banks with their loan loss reserves or insurance companies with their reserves for claims. Only with banks and insurance companies they can manipulate it any way they want. I imagine with ng reserve intensive companies there is an industry wide protocol that must be followed. Would be interesting to know. Anyone know?