Short Position.....We all have pondered the reason "why" YGR has such a huge short count and I think it is good to add to the theories as it is a puzzling thing.
YGR intiial 3-4m shorts could have done it gambling how f'ed YGR would have been if OPEC didnt restrain production during covid and keep oil prices at more liveable rates as YGR is the most exposed cardium player to land expiry compared to other cardium players.
Other cardium players have not had the shorting YGR has had.Getting on borderline mental illness stage for some of these shorters how hard they are in deep.
But the thing all cardium companies that didnt get shroted as hard...IPO, BNE, OBE is they didnt aquire their land from government sales like YGR has alot from....lots of their production is from vertical wells from 1960 and 80's.
As lots of YGR land sales were bought in 2017-2019...2023 and 2024 would require decent sized capex or land starts going back and write downs start.
For example, that honey hole ferrier wells drilled last summer in 2022,,,it was slated to expire Jan 2023. If oil was in sh*ttter at 40 dollars...what would have happened?
I don't think this is a risk for Ygr now as YGR has the cash and good amount of time yet.
Notice YGR doesnt put their total acres on a slide anymore...maybe reason for that.