RE:RE:RE:RE:RE:RE:What disappointment!The disappointments outway the positives.
Lets start with the positive.
I firmly believe buybacks and dividends are the way going forward. Form a base production and drive up the price with less shares. However...
Negatives
-A large float means divys small and buybacks take years.
- high h2s and water volume close to town may mean these portion of lands never get developed
- buyout seems less likely or for cheaper
-25-50% hedges going forword doesn't instill confidence from creditors
- higher cost of drilling
This sell off is overdone as today fair market value is closer to $5. But to get back to all time highs and beyond is it worth the wait or is smarter to move on to more oily less decline plays? This is the decision for myself and all investors