My guess is IR person is gone. Else I can't explain why he does not reply to people (my self included) ? Its a little company so he can't be that busy. Suggest people contact Heath Sampson vs trying to contact IR person.
One concern I have is the company now has debt ($15 million). If things go wrong, they might default on the debt. For years they've been able to screw up with little damage. Now, the stakes are higher.
Key will be Friday's OPEC meeting. Market expects Saudis to keep pumping at 11 MB/D. Any kind of cut would be huge (like market, I don't expect a cut)
Nice to be going north again
They commented about a "balance sheet restructure" on the last CC (Nick would not provide details). Still don't know what that means? Expect it might start to highlight that the share over under valued?
Buys were over the last week by both Nick (Board Chair) and Jim Piccone (President). Really is a bullish sign.
Momentum is a good thing.
Feels like were on a short term track to somewhere higher. My guess is 75 cents to $1.00. This said, we're getting buying even when WTI is down and/or the market is down. Thus people are buying, but can't know when it will stop.
I think mike and Mark had their own way of doing things. I really don't the old accounting was evil, it just had lower standards for record keeping than KPMG. Mark and Mike thought they did not have to take #$%$ from KPMG's bean counters and they go slammed.
I view it as a personality issue of school of mines engineers treating the accountants at KPMG with disrespect. The big for our really powerful. Had ADA jus stuck with their old accountants, everything would have been fine.
This said, I think the accounting issues was a huge distraction and cost shareholders a ton of money. All arrows point back to Mike, Mark and a board that did not provide proper oversight and cross checks.
I think it could 2X pretty quickly, Share price right now is just a call option. Once the company shows they can make money at today's price, shares will me up rapidly.
I think they could come out with good news and the stock might re-take $10. This said, they've been so slow I no longer look and assume ti will be after year end. For now, my bet is she'll go down before she goes up. This said, I used to think we'd be at $50 by now. Such a shame.
Don't know what reserves are in Gardendale, so really don't know what to expect. When asked on the call, NIck declined to give reserve or production estimates.
On the call, Nick commented they may do a balance sheet restructure? What does this mean? I assume they could buy in debt at a discount and issue higher yielding debt. I've seen this done before. Really helps chip away at the deb if you can buy at 50 cents or so on the dollar.
Not expecting clarity on anything until next year. Assume the stock will see tax loss selling through year end. Volume is so light, can be pushed up or down by light volumes. Surprised shorts don't swam in to push her lower?