RE:RE:How did sgy lose 2/3 of its value in 2 mths?
Gotta say- crude oil $35 today and Surge 40 cents, I look at that, take out the noise of OPEC negotiations and gamesmeanship - and see it for what it is - an extraordinarily volatile (and unpredictable currently) complex that could EASILY see oil back at 65 this year as it is to find oil dumped at 25
The repsonse to this - if one is holding oil stocks - in my humble opinion- is to stay with mgmt teams that one subscribes to. Yes i miss my dividend. But the way this thing trades- it could be back at some point sooner versus the today sentiment that its gone for good and we are bankruptt on less than 2X debt to cash.
We have hedges and we will see. Of course it stinks out there- but the 1P number here is above $2.00 on a normal deck - that is the quintessential question- what is the deck to use now? is it yesterday when everything was priced for $20 forever? Is it today at $35 wti? is it start of the year when crude was $65 ? so long long ago! . Thats the tough part. But it sure is dynamic.