RE:Done at $6.28..............
LEGACY OIL + GAS INC. ANNOUNCES THIRD QUARTER 2013 RESULTS; RECORD PRODUCTION AND CASH FLOW; EXCEEDS 2013 EXIT RATE GUIDANCE
shorting?? a bit of a dangerous game with oil over $100 and the cdn dollar having dropped to 90 cents. having said that, LEG has been in the dog house BUT even the dogs are being dragged higher as the patch in general moves higher. this talk of US buyers abandoning their positions can quickly be reversed. this was the same story with Painted Pony PPY and its now recovering nicely.
one other thing that i have noticed, the intermediates are all popping with half way decent reserve reports. also, if LEG does do an income model it now must know if it isn't done right IT WILL BE CRUSHED. so to me, they won't come to market with this model unless they can demonstrate a less than 100% all in self sustaining model (divi's, debt servicing, drilling etc etc). good luck with your strategy. dwdc
p.s. latest position 3k @ $5.85