RE:Aren't we near the bottom?
We likely are as I expect things to start going back towards $70-80 for next summer in Feb (it is my understanding that most O&G stocks hit a low this time of year and then go on a bit of a run Feb-May.
That said I get the impression people are expecting the worst and are waiting to pick thier bottom or got burned bad and are waiting it out unsure if they should sell or add.