RE: Penalty for roughing up the shareholders I agree with your sentiment crow.
This company isnt feeling any love.
But I must say oil and the rest of the market is hurting pretty badly as well, so it isnt just Ithaca.
We are pumping more oil and making more money everyday, and have access to some good credit for some timely acquistions.
Overall the fundamentals are so strong that our stay in the penalty box will be short-lived. But the longer we sit at sub 2 the much harder it will be to become a stock north of 3 technically.
I do think when standstill agreements end, which is relatively shortly, there will be some public offer(s) for the company, and management has now a whole lot of shareholders in at sub 2 that will gladly flip at a cheap valuation (?2.75). So for me it is a good stock to average down on, its fundamentals are strong, and now either a hostile bid or acquistions will give us momementum.
Oil has to hold though, and I think the Saudis will see to that shortly.