RE: Faith in managementI concure with your assessment and take a lot of comfort in the fact that all oil and gas stocks are down huge....lifetime opportunity to buy assets cheap for ridiculous long term gains.
Even if oil dips down to 75 for a few weeks, the long term story on this stock is fabulous. Mgt should incredible insight in i) basing forecasts on 80 oil and ii) raising capital when the market had strength....now they have the total package cash, world class asset, world class management....all that is required is time - plus as the market recovers over 1-3 years bankers will be producing 20k bpd versus current levels of 5bpd.
Short term we also have the reserve update coming in the next 20 days which should provide support against potential future declines in the sector.
The only real risk i see right now is that with the huge selection of oil & gas stocks on sale right now (ECA, SU, etc) fast money might now flow back into this stock as quick as it should