RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:May is here. Two well results are expected this month. All of the above minus the Acreage. They are sitting on gold, just have to prove it with two well results. They are not a real company without new wells over 400bbl/d. As an investor, why hold a high risk name like IBR unless it's part of your Spec Cash, or fun money. Retail investors are the majority holders because a fund manager can’t even buy into the name due to low liquidity, never mind having to justify to his clients he's placed a bet on 2 wells the essentially make or break the company. IBR is bankrupt without Velvet type wells, so in a rising oil environment why wouldn’t most investors buy and hold quality low risk names that increase their cashflows when oil goes up like CPG, Torc, RRX, GXE, SPE, etc etc etc.
The reason I hold IBR is because IF they do get wells, this name turns from a bankrupt story to a severely undervalued growth oil and gas company with a tonne of upside. IF they get well's, and IF oil continues to march up, IBR could be $1.50 - $2.00 in 12-18 months. That's why I hold it, the Raging Rivers, Spartans, Torc's of the sector are not triples from here. They'll do very well, but they are not 3 baggers.
Hoping for good wells for 4 more weeks.