You guyz were warned.....That this would happen. There's a reason Nuvista is dropping like a rock for the last several weeks. The insiders know the financials will be bad and ANYONE connected to the company or is privvy to inside knowledge has been selling out. Imo, revenue wil most likely come in under 100M and therefore a large quaterly loss which will lead to a big increase in the debt they carry. Which is not only a stock price killer but a company one as well these days. Only hope here is that Nuvista mgmt offset this bad news with some POSSIBLE asset sales to reassure the market, investors and above their lenders. Right now Nuvista is in a bad place and has to be proactive not reactive in order to set things on the right path.
Another option for a way out would be for some interested buyer approaching Nuvista for either a targeted and specific asset or maybe a possbile merger of equals. They could possibly attempt what Kelt did but as you've noticed, even though they eliminated all their debt, they've been reduced to a microcap. So they bascially gave up all the benefits of being a large siginificant junior to be debt free. Was the trade off worth it? Maybe, maybe not.....it all depends what Kelt does next. I guess Nuvista COULD attempt the same thing to aleviate some of their problems and pressures being levied on the company but one must realize that not only does Nuvista have 2X the debt that Kelt had, but Kelt also had an interested buyer in ConocoP which was VERY interested in certain producing assets the company had in investory. At ~700M in debt, that a sh*tload worth of asset disposition that Nuvista mgmt must come up with.
Unfortunately for s/h this downward pressure on the stock price will persist indefinetly UNTIL Nuvista mgmt reassure investors that they will remedy the issue soon & quickly.
Good luck to all