RE: DONE DEAL!!!!! Got 54% Now @ 71% For the majority of shareholders, it's quite sad that we can cheer about this now completed tender offer which represents -74% return from CRK's all time high and -41% from last year's bought deal. The only thing consistent about this company is disappointment and underperformance. It took an external factor, Luxor Capital, to be CRK's saving grace on getting the share price from 0.31 back into the 0.60s. Will this be short-lived or is the turnaround finally in sight with Cosmo so close to production?
I think the odds now are about 50/50 so I decided to tender half my shares. Perhaps CRK may see a bit of a lift now that weak holders have now surrendered their shares to Luxor. Then again, more bad news seems to be the status quo.
Looking back, I wish I had grabbed more shares in the 0.30s during the fire sale. I had been buying from 0.73 to 0.63 to 0.52 for a break-even position. At least I can now look forward three weeks from now to deploy the cash from the tendered shares.