If you read the company philosophy, the company clearly states they are drilling in properties which the majors have deemed "not commercially productive". The company is trying to extract small quantities of oil. I agree with you, this company needs to be on a tight budget to provide stock holder returns. Other than that... this stockexists for the benefit of management and not the stock holder...
Consequently, I see a $1 handle on the stock price. I am sorry you bought in at $3.5's...
If I read Hullinger buying, I will buy. Other than that, this stock is a dead fish...
Let us know when you start your long position and at what price. Disclosures are voluntary, OK?
Perhaps I will try again tomorrow, OK?
Remember, your disclosure of buy/sell actual purchases are voluntary. I am just trying to track the performance of knowledgeable EGY message boarders. JC14 has been quite forthcoming and honest in disclosing his buy/sell actions.
Again, only if you choose to participate...
Thank you for your prediction. I was not asking for predictions... Please let us know at what price you have started your new long position once the event has occurred, OK?
OK, good trade based on today's price move. Let us know at what price you start your long position. Perhaps we have some competition to JC14...
For ENRJ the following:
From the year-end report:
Because our 2014 reserve report shows a material reduction in reserves as discussed above, our
borrowing base will be similarly reduced. Such a reduction could show that we are overdrawn on our credit facilities and therefore not in
compliance with the financial covenants imposed by our lenders.
If this occurs our lenders may impose a plan requiring that we reduce the amount of that overdraft. Any such plan may include an
adjustment in the interest rate on our secured credit facilities and a requirement for regular amortizing payments. Any such plan would likely
require, among other things, that we apply our net cash flow to repayment of the principal of our secured credit facilities, limit our ability to pay
our ordinary operating expenses as they become due, limit our new production activities, and may require that we suspend payment of dividends
on our series A preferred stock. All of those factors will adversely affect the results of our operations and our stock price.
Why do these guys hawk this junk here at EGY message board???
Is it worth the trade to sell at these levels and possibly buy back at 10-20% less? It would be an easier decision if EGY was at $3-3.5...
You will find it difficult to "pin down" fellow message boarders' opinions. Honestly, only JC14 and yourself have clearly stated your EGY stock price predictions. The remainder of the borders are just "chewing the fat".
Remember, Chinese candlesticks and green tea leaves predict an EGY low of $1.93... Mr Chen, where are you???
Institutions may own 70% of stocks, but many institutions have a rule that if a stock trades below $5, they do not want to own it...
When EGY broke the $5 barrier, many institutions unloaded. Nothing to do with the company, just a policy rule many institutions follow. Luckily, small investors are still in the play...
According to the EGY board posts, JC14 is covered short position and started a long position in the mid $3's.
I would think that H2S removal is a already developed technology. I hope the EGY engineers can find and develop a low cost H2S removal system with out the need for a further stock dilution. Not all wells are contaminated with H2S. EGY has been very transparent in this respect.
Yes, that procedure works well for me, too. I do prefer green tea over beer or ale. Mr. Chen may have a different opinion. What say you, Mr. Chen ???
Why do you think SFY is selling for $2.91 per shear...
You are correct, this guy is desperate to bull the stock p[rice higher...
I am getting really serious about purchasing this stock.
So I pulled out my technical charts and indicators, donned on my wizard's hat, made a pot of green tea, and proceeded to read the tea leaves...
Both the Chinese candlesticks and the green tea leaves conclude an EGY low of $1.93 a few days before the earnings release (probably when the report is sent for publishing).
Time will tell...
Ask harry. He included the news release in the first message of this chain...