Don't lose your long term perspectiveOver the next 2 to 3 years if you own this stock you will make a potload of money. 9 billion cubic feet of gas is not chump change.
Remember (and to point out for those who didn't read it) Mike Schaefer stated in his letter last week that he expects SME to be between $10 and $20 ..... AND HE'S WILLING TO WAIT TWO YEARS.
Here's the quote :
" I own a significant number of shares of StormCat Energy and I don’t plan on selling until I see $10.00 to $20.00 a share. If it takes a couple more years to get there, I don’t mind at all."
So instead of viewing the PPs as a short term setback (which they are) take the "glass if half full" approach and view it as another step closer to $20.
And If you can't deal with that you should not be owning resource exploration companies because thats how these businesses are run.
Of course this is all MY opinion and you should do your own DD.