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Miller Energy Resources, Inc. Message Board

saa_85 1 post  |  Last Activity: Nov 21, 2014 9:23 AM Member since: Mar 13, 2011
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  • Reply to

    the math isn't working

    by cook_inlet_lng Nov 21, 2014 9:00 AM
    saa_85 saa_85 Nov 21, 2014 9:23 AM Flag

    There is no way around it. This is bad news. To make matters worse, it really does seem like Management has been dragging their feet on revealing this news because they have known it wasn't going to be good for a while. I think that a fair amount of this news might already be accounted for in the stock price. We can all point to the price of oil as a reason for the precipitous decline in the stock price, but if you look back at the price action in Miller stock, you will see that the price decline began before oil prices started to plummet. The move began in my calculation as a result of rumored disappointment in RU-9 and then of course delay after delay in completion and reporting on the well and it has been perpetuated by oil prices. Therefore, this news may prove to be a washout with the stock hitting new lows before stabilizing. Keep in mind that RU-9 was a product of old management. New management inherited this project. Going forward, new management has an opportunity to get the company back on track. Don't forget that Miller has more than one well being drilled at any one given time. An upside surprise elsewhere can offset a downside surprise in RU-9

    Sentiment: Hold

1.33-0.02(-1.48%)Dec 18 4:03 PMEST

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