Year results and a production update are keyThe market doesn't seem to want to give IAE the benefit of the doubt. It wants to know how these oil prices are affecting IAE financially, and more importantly, what current production looks like. Are we going to meet guidance? Are there more surprises? Are there any unplanned shutdowns? Is production declining? It is this uncertainty, along with debt fears, etc, that will keep the shareprice here or lower for awhile yet. I agree with a previous poster who argued that the 5th well is irrelevant at this point, since production from stella is well over a year away. Unless the 5th well comes in below expectations. Then the market will punish the company. Seems to be the way right now. Good news has next to no effect, but bad news is treated like its the end of the world.
I believe investors have been conditioned to fear news releases from the company, since more often than not, the stock price falls after news. Therefore I believe investors are currently afraid to buy before the March 31 results. Hence the very weak buying pressure we are seeing.