RE: RE: $20 stock?"Nothing....which is why its time to buy"
If you think nothing has happened, you have not been paying attention. These guys went from exceeding expectations Q after Q to missing Q after Q. Reserve growth was far lower than anticipated, and production decline far higher. They went form having nearly 100% success rate on wells to under 90%, and they exited last quarter with lower production than they started with.
They can turn this around, but they better have a damn good Q3, and from the sounds of it, they won't get over the service rig issue until Q4 or later.
For those that argue that production grew in Q2, you would need access to daily production logs to know that. It is more likley that they entered at 13500 - grew it to 14000, then tanked in the latter 2/3ds of the quarter (right around when the stock started to tank from $8.5 - guess some people do have access to the daily production logs).
The Q2 results are essentially known (based on production and sales numbers already released) - so the earliest they can have any really good news is October - unless they get wise and release production numbers earlier (if they improve that is).
Long term - this is a reserve play and hopefully they can prove the reserves.