Bearish viewsEven though I have been very bullish since the fall of 2013 and supported the present management team, I am definately bearish now. The financial for Y/E don't look too hot even after considering the freehold deal. I was expecting reserve to increase substentially and it did not. I believe stopping the drilling was a good decision but I doubt that they will start drilling in August.
Simply, I don't think oil prices will move up in any substantial ways but in the same token, in August and September 2014...... if you had told me that the prices were to tank below $50, i would have laughed and not believed it. So I don't think oil will spike up from now until August 2015 but what do I know about oil prices.
Even though I hate to side with Jenny since she was able to get my goat more than once on this board, I have to agree when management start bringing up bonus and the way they are talking.... it is not very promissing and not very proactive from a good management team.
So in the mean time, I will hang in there otherwise the share price would drop like crazy, if I was to sell any of my position. I am still hopeful that management might pull another rabbit out of their hat but regardless, I am believer in, "you win some and you lose some" so one thing for sure, I am ready to take my pill and live with my decision.
I will keep in touch as i see fit.
Regards,
Fearlessgg