MHR sold 3,000 boepd (85% Oil) for $400M michelle, SCS has retail investors ONLY currently. BAM and retail investors that jump off the bridge ignoring any fundamentals. This impacts the negative market sentiment currently.
Somebody is buying and is laughing at the sellers. I posted the FACTS that the retail investor denies to see. He is in DENIAL and this is why, he is always a LOSER.
SCS can make a JV or sell for a decent $20/boe of its 2P HEAVILY OILY reserves (12 MMboe) and get $240M.
Comstock (CRK) sold 25 MMboe of reserves for $768 M few weeks ago at West Texas.
Magnum (MHR) sold just 24,000 net acres with 3,000 boepd production for $400M today.