Grover - bumped my HRP stink bids up 2X today, thought there may be a late day dip...perhaps tomorrow, perhaps too Scottish. That's ok.
Considering MMR has spent a whack on shallow water, deep drilling, DJ1 has been a huge cash burn, dang near bankrupted MMR. Ahead was either dilution or delayed drilling. Instead we got a buyout, cash + a royalty stream. Sweet deal. Plus the short squeeze. Sweet. Awesome mngmnt, no MCTO's there.
HRT looks like a no brainer.....binary event compared to MMR.
Drilling DJ1 has been re-writing the drill deep playbook. Massive temps & pressures, too small a borehole..I'm hearing close to $1B for just this well and the years of delays
Trading today was in the $1.3 B value and a bunch of that wasn't longs cashing out. It was shorts trying to cover, frantically trying to keep their head above water while they got margin call after margin call. I was in the life raft, beating their frantic hands that wanted to grab my shares, off the side. Fun swinging that paddle all day long.... but my arms got tired.
Nothing personal, just an investment decision...if an investor thinks shorting is the way to make coin...do the math. Most they can make is 100%, most they can loose is unlimited...like them odds?
Luckily MMR trades on NYSE and news about "Fiscal Cliff" was bigger than the MMR shorters that got wiped out today. NYSE was up today.
Ever read Jim Crammers book.....Confessions of a Street Addict?
Time to go and celebrate a wee bit