RE:Correction on Reserves"NPV is $310m, that is not the same as the value that someone might pay for them."
Actually the current NPV is US$310mil (2P reserves) + US$63mil (cash) = US$373 mil.
People may not be willing to pay a price.
But isn't it funny how they had no problem paying a higher stock price over the last 4 months than now and how the selling showed up the day right after the NR that everyone was wating for in closing the farmout hit the market?
Ya, a company with with the same assets and $63 mil in the bank is worth less than the same company with just the assets.
Naked shorts are illegal, but still used to hold specific names down. Traders can still profit off of shorting names. Algorithmic trading just follows momentum trading, regardless of valuations. The markets are a lot more complicated than just one someone is willing to pay.