RE:RE:SGYNot really a head scratcher. It's simple, the oil investor pool has shrunk. Sucks but it's true.
And with the rapid spreading covid UK variant predicted to become the dominant strain here very soon, compounded by more severe lockdowns, I'm expecting the latest oil price run-up to reverse soon. I honestly hope I'm wrong.
Health experts say, it's going to get worse before it gets better. I fear much worse with this new variant.
I've been (too) long for 9 years (never short) and I'm getting used to the roller coaster, and I fear there's another dip ahead in the first half of 2021.
I hope for my sake Canadian producers locked in some attractive hedges lately.
Looking to Q4 2021 for
real solid share price gains.
GLTA, Dan
Countrin2tive wrote: It is a head scratcher. With oil prices ascending, you would think that share prices would be climbing a little faster. Unfortunately, SGY has not clearly indicated what upward oil prices are or will do for us, and in fact I will go as far the say that the information they have provided including last financials have been "clear as mud". I point to the oil prices over the last 2-3 quarters, losses reported by the company, yet still paying down debt. Doesn't make a lot of sense to me, but I am not an expert on earnings/financial statement, so what do I know?
My point? Well I still believe rising oil prices means good things for SGY. However, I think many who might buy into the company are waiting on better/clear information from Surge. In the meantime I'm still long, fingers crossed, and hoping SGY will pump out some great news soon. Good luck all.