share price reflecting a multiple of oil price, oil up EGY up, up
this equity was never to be de-listed, it just scared the weak hands
would be nice to see higher volume though
15 minutes before the close there was a sudden dump that took shares down, is it down enough for you?
seems the mm guys know a bargain, getting a nice move off the bottom on higher volume
could bring the pps up over the dollar marker and calm down the margin callers
Cash minus debt = 58 cents per share, so the low valuation is just beyond stupid, it doesn't value future oil production for anything at all
My larger point involves the source of the oil, the hot geothermal vents far below. Oil creation involves a geothermal action on carbonate rock. Not from decayed vegetation like coal. Thank you Russian scientists. Pumping in a vast underground saltwater ocean cuts off that geothermal action. IMHO
Thank you for saving me typing all that info. I thought everyone already knew about it. : ^ )
They have pumped so much seawater into the ground to raise the oil pressure I'm amazed they don't float away. They have cut off the deep source of the oil just to drain the fields from the top.
Not funny how they worded it, as an increase (overall from the company view) but it was a cut, from a shareholder view. The increase of share count, from the company view, makes the overall payout more. The pps wasn't fooled and now it yields 11.6% still pretty good, but only for new money invested. Maybe after this dust-up settles down the pps will catch a decent bid.