RE:DeclineMy guess as to why this is tanking would be simply the fact that the webcast gave us a chance to meet and evaluate management. I wasn't impressed.
Things were going not too bad untill the cfo spoke. So, the problem as I see it was simply the fact that the cfo stood up and characterized an eight dollar hedging loss as something of a positive that he would look forward to any quarter. That attitude scares the sh*t out of me. It would appear to me that their hedging strategy reveals a total inability to read the current oil market.
Unfortunately for me I have a fairly large position which I will be selling as the opportunity arises.
One man's opinion. Each to his own.