Other than the fact that oil is cheap - expected this time of year....
And the price is......... $3.77 and dropping. I like your enthusiasm, but lay off the coffee and try some sleepythyme tea. We'll get there and things are looking up. Patience my friend, patience......
I calculate at about $7.52 per share based on acquisition value. If you look at small oil producer acquisitions over the last couple of years, larger companies are paying between 110 and 150 thousand dollars per BBL/Day of production. Their production is about 4500 and growing at about 15-20%/year. With those numbers in place you get today's price (3.82) times 1.676 (assuming $130,000/BBL/day) times 1.175 (basing on next years production level) and you get $7.52.
I suppose it would be better if they don't strike a deal with Iran, better that we let things simmer and let the Israilis hit them hard and drag us into world war three - that will be awesome for the price of oil - we'll all be rich - hope you don't have any kids in the army....
That is as short a time as it has been in an entire year and this is largely due to daily volume doubling in the last few months. The shorters were not saved by their cunning. They were saved by the fact that AXAS is now a hot commodity.
I'm not so sure about the price, but I agree about the A-holes in congress. I suggest all 50 states succeed from the Union and make the Fed gvt. obsolete. Once the idjits are kicked out of DC - We can reform the union with a rewritten constitution that will prevent this kind of nonsense in the future.
Hold on to your horses pardner. Realistically this will go to about 6/share Based on production valuation. I'll be happy when we get there. Glad to see the Clinton Group on the Board!
no - before that happens, they'll open the chokes on the wells so it looks like they're producing a lot more than they are now.
I hope you're right. But the worldwide lack of confidence if Bob is pretty overwhelming - notwithstanding your absence from that camp. Bob is holding an ace in his pocket. He has the wells pretty well choked back and can open them up when investor pressure gets too hard to take. His time horizon is longer than ours - for better or worse... He has shown that his coat of armor for fending off the NorthPointes and Clinton Groups of the world is pretty thick.
I can't say for sure - but that would be in line with Watson's past choices to choke down the wells. I suspect a some point in the not too distant future, he'll back off on the choke and let it flow in maintain his projected 15% quarterly growth - IF NEEDED
BTW - you can't trust the order book info on Yahoo Finance - it's garbage. Countless times I've had orders in that didn't show. Don't know where there info comes from but it certainly doesn't reflect reality. It's garbage - ignore it.
You guys are smarter than the comments I've been seeing here today. Let's see something deeper than restating the obvious.
Excellent volume and gain - on an otherwise lousy day across the markets. Short interest continues to decline and days to cover even faster as overall volume continues its months long uptrend.
Probability of an overwhelming short squeeze continues to diminish!!!! But... Price continues to increase. Those listing to sell at these levels are seeing solid price gains so offers to sell are evaporating. Indeed, things are looking up. Now, if only Bob Watson would resign, we'd really make some money!