Arcan Resources Ltd ARNBF

SP sinking into 3-year low territory

[hardeehar]

I'm sorry to say Arcan is languishing at price levels not seen since since late 2009, and those who think it is solely a result of low oil prices and weak global economic conditions have their heads in the sand.

As longrun has alluded, the persistent SP weakness signals more bad news is coming - likely being lower production guidance than the >6000 bbl/d figure they stated in their last news release and reiterated again at the AGM.  Appears mgmt still has not learned from their lessons of the past of over-promising and under-delivering.  I get the feeling these clowns couldn't manage their way out of a wet paper bag.

I sure hope I'm wrong and be made a complete fool of and Arcan ends up pulling a rabbit out of their proverbial hat, but as I said the SP behavior suggests things are not looking good.

Makes one wonder whether a complete mgmt overhaul would be in order...