Now GTE above $11.00 per shareGTE has sen a $1.00 rise per share in two trading days. A rise like this is uprecidented for GTE and not all attributed to the rise in crude.
There is no news issued so could be a combination of rise in crude and short covering.
As far as profitable next quarter is concerned, GTE will show a loss as they always do simply by servicing the debt, overspending on exploration, roylties, payoffs to the local governments officials, stock options to management and board members, etc.
The minimal increase in volume (barrels per day) and higher price for oil will not offset the losses. They've played this senario for the longest time.