RE: Perfume on a pig..... Eunice12
I am not that positive. Over the years I have observed that at various times management has a strong incentive to play up a stock's potential and at other times to play down a stocks potential.
Now is a time when gas prices are weak, storage is huge and production is being cut back. If stock prices are going down anyway why not put a negative slant on news releases and downplay any possible positives. This ensures management gets the lowest possible price for flow thru issues or option strike prices.
C1 has reduced its drilling ( as it should ) but has still had success at Necklace, and Blueberry.
It has 4.5 million BOEs in reserves and more when the recent successes are added in.
They have good land positions around their discoveries.
I think that instead of focusing their news releases on a 100 BOE/d reduction in production they could have indicated what the new discoveries might mean in terms of future reserve additions and production.
They did not say much about their recent discoveries despite the fact BER speaks of Necklace as being 1000 BOE/d and a high impact play.
Gas prices and gas stocks will be weak for a while. I think that a shareholder should keep in mind that C1 has been discounted quite severely already and the negative news releases are not as bad as it seems at first blush.
It is a poor situation but it can in time get better.