Post by
radcat on Jun 08, 2015 10:19am
I Sold This Morning
For what its worth, I decided to sell this morning. I was lucky and got out at $7.15 U.S. or $8.19 CDN. I have been contacting Chris @ IR since the news broke in Seeking Alpha. I asked him if the company plans to make a public statement prior to Friday's Market Close which they did not. I then thought certainly Erin would work on a statement over the weekend and say something prior to the start of Monday's trading day.
When I saw this wasn't going to happen along with the litagation lawsuit I decided to sell and sit on the sidelines for the time being ans see how this plays out. I may re-purchse my shares once the dust settles. I am very surprised the company chose to say nothing thus far. When management chose to say nothing this morning I knew the share price would continue to sell off.
I think the oyo-7 first oil news will reverse the negative sentiment that investors currently have towards Erin Energy. Makes me wonder if management will take advantage of a much cheaper share price and buy the whole kit and cabutal. Good Luck to those who chose to remain in this name. I wish you well.