Ring Energy Inc REI

Finally Working Out the Shorts?

[ditchdigger251]

REI trading volume has been unusually high the past 3 or 4 days with volumes between 4 to 7.5 million sh (usual is ~2million).  I've seen comments and info that show Shorts comprised about 50% of the trading traffic so it appears that they're able to cover a good portion of their positions.  I have a notification showing up for earnings on the 15th and there will be a new presentation posted on their Website on the 13th while REI participates in a one-on-one investor forum at Dana Point CA.  I wouldn't be surprised to see the sp begin working itself up now.  There's a low street expectation on Earnings at 0.07 and that will factor into how strong REI Cashflow was during a mostly reasonably priced WTI Q4 (except for a week or two in Nov).  Forward Guidance and a Reserves Report using oil prices far above the $36.50 WTI used in 2020 should show a huge value improvement.  Proved + Prob Reserves in 2020 with $36.50 WTI actually had a $6.50 NAV.  Interesting and hopefully fruitful days ahead for REI!