RE:We Dropped Almost 9% Since MondayUppersDowners wrote: even though oil was up during the week. There has always been talk how undervalued SPE,TVE,SGY and others have been yet we get sold down the river. Very frustarting to see us at $2.56 with oil at $53 and the CEO says that at $45 oil we can be a growing company and each $5 jump in WTI price adds $40 million to F/CF so we are doing great. Now it is time for SPE to do its job and head back over $3 at least.
All energy stocks are done, even the US ones like Chevron, Exxon & others. It's not just Spartan. Spartan came out with great news and assured investors they can make 10% a year on $45/brl oil. Substantial increases with increments of $5 above that margin, we are already almost passed it twice. I think we should be patient with Spartan and other reliable energy stocks; personally, I am not enjoying being down thousands since re-entering the market in Feb (energy speaking) but I am confident that energy will rebound and that we will likely see $100 barrel oil before we see $40. Let's just wait and see what Madman Trump and Exxon Rex are going to do. They are stirring the pot and the implications of their greed will have substantial bearing on the energy sector (positively speaking) in my opinion.