OTCPK:LNREF - Post by User
Post by
jerrybeon Sep 15, 2014 12:45pm
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Post# 22936844
Massive correction
Massive correctionI just checked again the firm's website to see whether there was any "new" news. I did not see anything so I have to believe it is a "coming down to earth" moment after quite the meteoric rise.
The poor Q2 operational update did not give any support for the massive run-up this stock had after a glowing SA Pro article that make this stock fly.
Valuations are getting interesting. If the firm provides a positive update on its EagleFord well (solved the interference problems) then the current weakness would offer a nice entry point.
With hindsight, I should have sold after the Q2 numbers. They did say in the press release that the problems were largely resolved, which prompted me not to sell.
The current environment has been very negative towards small E&P stocks. It will offer some nice investment opportunties in my mind, including LNREF. Do your own D&D and please post if you find any recent news on LNREF.