GREY:LSTMF - Post by User
Comment by
rockman998on Oct 10, 2013 1:17pm
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Post# 21807417
RE:thar she blows, 7.04 alltime, all time low congratulations
RE:thar she blows, 7.04 alltime, all time low congratulations
I agree the stock appears headed for $ 5.00 and lower. In addition to bad management just maybe the properties aren't very good and production can not be sustained from cash flow (regardless of dividend). This could be the reason no large shareholder is pressuring management but rather heading for the exits. There hasn't been a good press release in nearly 2 years.
If Wright resigned / fired whatever, the stock would probably jump $2.00!
I doubt if the cash flow in the reporting quarter is more than the previous quarter with 1,000 boed lower this quarter and the price of N/G this past quarter substantially lower. Also 40% of their oil is hedged, so their average price (BOED) might be up $3.00 over previous quarter.
I wonder how much debt they added this quarter. Their typical additional debt per quarter is $100M - $ 150M per quarter and the stock sinks about $ 1.50 / quarter.