GREY:ROAOF - Post by User
Comment by
zagorskeon Nov 18, 2014 1:22pm
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Post# 23140481
RE:Shouldn't there be well results soon?
RE:Shouldn't there be well results soon? Matt, think of last year, it was press released dec. 16th and a merry Christmas to all.
Q3 results had to be lower since no wells were being drilled, Sage Grouse was inhibiting
work at Manyberries and of course those pesky decline rates keep showing up.
On the bright side they did increase the full year guidance at a time when they knew Q2
production, They have not rescinded that increased guidance which I suppose was due to
the 100% participation rate.
The share price? I was happy to triple my holdings as they drove down the price to 20 cents.
I am under water here and it is bothersome that not many others see the same value
proposition that I see. But then that is the nature of the market isn't it?
The value investor is always faced with having to hold through a scary scenario. Negativity,
like suspicion, tends to grow as time goes by and this tends to panic investors into selling.
We are faced with the scary prospect of low and forever declining oil prices, Sage Grouse
orders ruining us at Manyberries, increasing debt, delays in our anticipated result time,
nervousness over drilling success and of course horrendous volume coming out of nowhere
by a knowledgeable seller.
Yada, yada, yada...........
Keep in mind the value proposition. Managements job is to realize that value over a longish
period of time. (at least it seems long to us as we wait) With successful wells value is easily
five fold from here and likely quite a lot more. So far there is no reason to doubt that value
proposition.
We need to hold the stock until we get a more bouyant oil price and proof that the Monarch
area is a hot oil play that pays off with good well results.