Manitok Energy Inc MKRYF

RE:stop with the childish blah blah

[jerrybe]

Fine but MEI has disappointed on the operational and commnunication front in many ways for a long time now.

Returns might not be as big on the upside but Surge Energy and Lonestar (LNREF) have been much better at convincing the markets they will benefit massively from this downturn when oil prices go back.

For MEI, I think the summer's transformation was momentous but it remains grossly undercapitalized. If they have such good acreage, they should have already inked a JV where the partner puts in most of the drilling capital. The fact that there is simply NO NEWS and ongoing midstream issues is not reassuring. Yes, there is very little infrastructure out there and they have to do a lot. They are just doing it in the worst environment possible and it could cost shareholders an arm and a leg. The fact of the matter is, many beaten down stocks have already gone up 50% from their August lows...we are back at all time lows.

Definitely in a "hunker down" position...I would say quite a big risk of a major dilution of current shareholders, despite some very good assets. 

I will average down the day they announce that they have finally found new capital that does not involve massive dilution. Happy to buy at higher prices (heck I am still averaging down significantly at 40 cents!). Until then, I will wait and see.