There is another angle
Everyone knows oil will not stay down at these levels forever. Even if it takes 18-24 months, oil will be back to $65-70.
It's prime time for acquisitions in the oil market.
I think investors have to look beyond the current stock price decline. Baytex would be a prime acquisition target. They sure won't sell their company for $5.00 a share.
Most likely it would be valued at $8.00-11.00. Baytex traded at $20 at $60 oil.
I would never sell now and like many others are mentioning, it's probably getting very near the time to buy more.
If they are bought out, that's one ship I want to be on before it sails.