Market Down and So is RMPStill not worried, but would rather see WTI and the price stabilize.
At this point, the only worry to me is how low WTI goes. Again, if it goes to $85, then RMP and others will likely have to curtail their drilling a bit.
But does it mean RMP are in any kind of trouble? Nope. They will still have so much oil behind pipe, that their only worry is how long it takes to get it to market.
I saw on BNN tonight that Nuttal is still holding his position bought at $5.50 and that RMP is one of only four oily (or getting oily) non dividend paying WCSB stocks he would buy.
As an aside, one of Nuttal's top picks tonight is Alexander (ALX), which I personally waffled on buying at 56-58 cents. In the end I did not buy ALX because of the temporary insanity that management displayed in selling the prior Spartan in an all share deal to Pinecrest. What a boner that was.
Larsen6