RE: I smell somethingI tend to agree.
It was clear from the drop down from 9 to 7 that information regarding operations is being leaked to person or persons who are shorting the stock. The fact that it continues to tank and the short position has not been covered suggests that operations continue to struggle and that there is more bad news coming. After they finally admitted the production issues in July, I unloaded and until the company learns to provide monthly operational updates that allow common investors access to information that shorty obviously has, I won't be buying.
Based on the decline rates and the water issues, its not clear to me that they can have sustainined increased production unless they add significantly more drilling. The thermal program can change that, but won't have info on that until Q1 next year - so shorty will continue to own this thing.
I believe the large volume yesterday was large players seeling to shorts who have covered some of their position and will now begin shorting it further.