Post by
zeus55 on Aug 12, 2013 9:38am
Horrendous, simply horrendous
Well, it seems that the guy from Midwestern was 100% correct when he said the new pipeline wouldn't be done for another 6 months, even as all of the "experts" on these boards were calling him a liar.
And if absolutely nothing has been done for a month and a half, how come we are only hearing about it now?
And now that we have that second rig, its first job is to drill a water well? WTF? This is the first I have heard that water in the oil has become an issue.
They did temper the horrendous news with the carrot of a potential increase in flows through AGIP, but we have no idea when that will happen, and are still subject to the risk of them shutting down again, with no option for delivery until at least Q1 2014. And we all know that could be longer.
The risk level has been ramped right back up, and there is no way in hell that I would hold this stock now.
GLTA of those who hold, you will need it.
Comment by
ctlAltDelete on Aug 12, 2013 9:43am
Not to mention the ticking time bomb of 3 months of losses <*cough* theft> not yet reported. I agree - risk is quite high here.
Comment by
kolokoy on Aug 12, 2013 11:07am
its sucks, cant even filled my bid.... the NR is just a confirmation for the past interviews,rumour,etc... and was already priced-in. we went from 1.65 to 1.46 prior todays nr.
Comment by
pipsqueak3 on Aug 12, 2013 11:43am
Kolokoy, you're a techy...... look at any daily/2day secondary data set of PA and tell me this is a bottom... it's a tall staircase and the slinky's been pushed.
Comment by
disco68 on Aug 12, 2013 1:08pm
It interesting that the same NR can result in two ghastly different perceptions of what is going on.........https://www.investorvillage.com/smbd.asp?mb=12706&mn=6432&pt=msg&mid=13033057
Comment by
zeus55 on Aug 12, 2013 3:15pm
"It interesting that the same NR can result in two ghastly different perceptions" -------------------------------------------------- That is what makes a market. All I know is that I have made good money holding MMT when things were going well, and selling when it became obvious things were going badly. Everyone has their own objectives and opinions. It is a free country.