When speaking with wpx IR the biggest thing I got from the conversation was that they are afraid of being taken out on the cheap. This is because there is a huge float and lots of weak hands holding the stock. (So I imagine a hostile takeover scenario). How many shareholders that either bought below a dollar or bought at slightly over $1 would gladly accept a buck now. The market is cruel and unfair, it should in fairness be worth at least $2..
It's the same principle for krn and aaa. Only difference is that krn's management owns 30% of the company and an Indian Jv owns another 20% so it would be really hard to take a controlling influence with such a low float(own lay 21 million shares not including h Indians.
bottom line is that wpx has a good resource and it is only because of the current shortsighted condition of the market as to why it does not trade at least at a buck. But crazy thing is I can still see this trading lower only because the market knows wpx only has plan A- $3.3billion.