RE:RE:RE:RE:7M VOLUME - JUST MASSIVEYou are reading the targets corrrectly but thats based on conditions of a few weeks ago.The problem is that posters here arent reading between the lines through their panic.These targets are a few weeks old and will change.BUT posters dont read the company's update either and spread misinformation instead. Thats because most posters here are stupid lol. Let me explain..
In the most recent company update they state somewhat optimistically that they expect $65 oil in the year as average but stated that they can and will cut capex as needed. They also 'stress tested" themselves and have no problem with oil as low as $55.Now thats an average price for the ENTIRE YEAR.
They have term debt of 200 million that doesnt mature untill 2017,thats 2 full years and also have line of credit of 800 million.They just recieved another 100 million from a lending syndicate.
I can understand concern because the lending syndicate can 'demand'alterations to the company's capex in a few months,for example,but this company has many options to exercise.And thats the problem I think with Legacy.They arent as clear with shareholders as they should be.At least not in times like this.But then again many oilco's arent.
Legacy is and always has been a completey unpredictable stock.How some clown can say that $1.20 is resistance is laughable in todays market but thats the panic stricken nonsense that you will see on every oil bullboard lol.Legacy has a market reputation of being one of the most consistantly shorted stocks on the TSX.Shorters love it.
Thats also why its difficult to find bottom on this stock.
Lets all be honest here.....its tough to impossible to buy any oil stock nowadays.Noone knows.And although this board has its share of competent contributors,its also full of posters that I dont think are serious .Its easy to become disillusioned in this time.Sometimes I think its best to close the PC and come back in a year.