RE:I trade 13 dollar targetThis is my largest holding by far. The economics are staggering in any reasonable oil environment. I've been adding each day of late so I'm now crazy overweight in Spartan.
I cannot fathom why it's trading this low other than it's tough for institutions to accumulate with the low float so many institutions are going to the more liquid names. The one thing I wish they would incorporate is a buy back. At these prices it's cheaper than buying assets elsewhere. I think they are waiting for this coming quarter where they have a full quarter of production from the Velvet assets.