RE:RE:Smarmythey will absolutely need to do another financing if they plan on any sort of acquisition of any size - and it will NOT be accretive at their current share price - imo. They are stuck.
You're right in that they do have a decent balance sheet in comparison to some - however keep in mind they are producing at roughly half the cash flow that they were 6 months ago and these current prices are not reflected in their year end - so they're not as healthy as one might think. Neither are most/all oil companies right now.
I don't know - if you're banking on this being a better pop than others with an oil price recovery - well, let's hope it happens quickly...I'd rather park my money with a divy stock like wcp for the time being, as they also have significant upside and can afford to do acquisitions in a timely fashion.
I'm also second-guessing my considerable investments in oil stocks right after the new year - 'bottom-feeding' sounds great unless it's a false bottom or dead cat bounce. The blood on the streets will be huge if oil slips from here for any length of time. I guess that's why I'm in a couple divy stocks right now...yield softens the blow.
Thanks for your comments - I'm not looking for a junior stock market play - at one time that was all I did, but now my privateco already has me overweight in oil. But - good to know your motivations.