That's the only question you have to consider. They have a decent amt of cash, but it will be quickly burnt up if oil prices remain low. If they move out of Canada it looks like they will only have operations in Australia. Does anyone know if they provide services to the USA and if so how significant is it to their business model. Or do they provide services to actual drilling operation, or are they mostly providing services to shale extraction. With the oil prices being so low I don't think it is profitable to retrieve oil from shale so where does that leave them. I still think this has some downside but that's just my opinion and that don't count for much.
I agree production won't stop with the average price of extraction being about 7 bucks a barrel the oil producers will continue to do what they do best make more money. But the perception of cveo is tied to the price of oil and if they are revising their revenue downward at 54 a barrel (a few days ago) what do you think their revisions will b at 40 a barrel or 30 a barrel. I guess when you buy this, one is thinking the drop is over, I'm not so confident the drop is over for oil or cveo, but time will tell.
With a 2-4% drop everyday in oil this stock will most likely continue to get hammered until we discover a bottom. Unless cveo can figure out how to earn revenue some other way from their assets.
I don't like the fact that it didn't hold it's price but that could be day traders the price should continue to rise but one never knows in the market!
Had most of my holdings there since the beginning of feb!
How can they even say the price is what it is with the ask at .04 ! I don't know how they even get away with it!
Lets see what happens
Their market cap is only half a million, this company should be higher if what they say is accurate.
So I am thinking this could go up from here!
Why is it always a letter of intent, but anyway according to them they will earn a profit of 1.2 million yearly and it doesn't even move the stock, has anyone google earthed them. Just wondering
You just don't get it I wasn't gonna short it, just saying that is a positive for the stock I don't ever short unless I think the general markets are for a downturn and I would never short small priced stocks. I know a friend who got his a@@ handed to him shorting a small priced stock. So far I am up over 400% from jan of last year. So I like to think I sort of know what I am doing
That is what I did I sold it only cost me the 20 bucks for trading fees. I mean I hope I don't regret selling it. Only time will tell
I agree but the way they have this supposedly set up is earning percentages off certain wells,
I am not saying it is legit but maybe that's why they need so few employees. That's if the company is legit
Maybe I can get it lower. I do like the fact that their sales numbers are rising and short interest is at an all time low. That means the shorty's collectively do not think it goes much lower. I am not sure if this will go much lower from here anytime soon. What to do, what to do!
That's exactly it, I would never put myself all in. And after being corrected that the insider buys were compensation not a open market trade made me a little more skeptical. But who knows when the time to sell is. Congrats on getting them for .29 that's a no brainer but there could be upside for this, only time will tell. There is no definitive way to know which way this will go.
Nope just missed the non open market, but I don't care what you think you are probably the type who sits home plays video games and couldn't get a girl if you paid for it.