GREY:DPGYF - Post by User
Comment by
larsen6on Aug 23, 2010 2:19pm
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Post# 17375392
RE: bloodbath
RE: bloodbathYah, it is certainly not pretty right now for any of the small companies with too much gas production.
Admittedly, I sold shares at $2.40 today. Thought I would never do it, but I did. Enough selling for now though. Those with the cahonies to hang in there until Dec/Jan at these prices (ore lower), more power to you. Still have maybe 15,000 shares left. Will hang onto these.
Why did I sell? Because the hot summer is pretty much over and now all we are going to see are large builds for a couple of months. Hot weather has not been enough to push the price of natural gas up (disappointing), and the 2% chance we get a significant hurricane does not convince me to stay loaded up right now.
Yes, DEE has wonderful hedges at over $6 in place, but they will be coming off in a few months. Then what do they protect themselves with, $4 gas?
Cardium is where it is going to be at for DEE. Let's hope this fall's program goes well.
L6