RE:RE:RE:How many shareholders did astra have?ramsberger
No reason to be sarcastic, our shares could be stuck around 5 $ for a long time because of astra share holders cashing out their shares. S&F raises many good points. Last years performens and business plans was not done with us smaller shareholders in mind. It might work if you are a day trader.
I do believe there is good value. Hopefully we see fair value befor oil crashes again.
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"Our shares could be stuck around $5 for a long time because of astra shareholders cashing out their shares."
Astra shareholders have every right to "Cash out" their shares at any time just like any other shareholders do. SGY didnt give Astra $160 million in shares for nothing. They bought a lot of oil reserves and over 4000 barrels per day of oil production for those shares that are currently making SGY a lot of free cashflow.
S&F does not raise a lot of good points. He posts the same repetitive bashing in post after post after post which do nothing but highlight his bitterness for his losses in this stock. Nothing wrong with being critical sometimes but when their is nothing but constant bashing it is not a poster worth listening to.
Last years business plan was done with SURVIVAL of the company in mind. Large shareholders including the CEO here took a lot more losses than small shareholders.
All the so called mistakes of the past would have looked like genius if oil prices would have stayed at the current level for the last 7 years instead of where they were in the $50 range. SGY would now be debt free with piles of cash in the bank and more pouring in everyday and everybody would be calling Colborne a genius.
Things did not work out that way. Management can take some blame for taking on a lot of debt a few years ago for some asset purchases. If oil prices would have cooperated that would also look like a genius move. They have learned from those mistakes and are now adding a lot of production by issuing shares which add a lot of production and very little debt that along with the current high oil prices and hedges rolling off very soon all will add up to SGY next year being in a lot better position and hopefully performing a lot better than it has in many years.
For those who dont believe that that will happen they can "Cash out" all their SGY shares anytime and go away.
Good riddance.