Breaking Out Soon? - Not A Chance!I love the optimism shown on this board for this lousy stock, but don't hold your breath that it will fly anytime soon - if ever.
They have way too many shares & warrants outstanding. They likely won't get much for the North Sea properties as it's a distress sale. Their Idaho well flow rates are not nearly as good as expected, and they have precious little cash. The president s/b fired but they are sticking with him - he has lead them into one bad deal after another. Mgmt has made error after error from day one.
This stock was over $1.25 not long ago and it will never go there again. I suspect they will merge with another loser soon - PXM. That might get them slightly better mgmt (not sure though) but it will nearly double their shares outstanding so the SP will be really diluted. I still own several thousand shares (ok, I goofed) and I consider this lost capital.