For someone who supposedly got all out at $2.70, you sure seem to like taking the time to bash a stock in which you own no shares. That always amuses me when bashers say they have no shares of the company, and then go on with long winded reasons as to why it is headed lower.
Well, on behalf of all of the people you are 'just trying to help', thanks.
So you think the company should be at a buck with 1000 boe/d production. Obviously the market disagrees with you. November 30th, they released this: Currently producing 1,019 boe/day2 (736 bbl/day and 1,540 mcf/day1)
And guess what? The stock moved up to $1.40 the next session and then hung around the mid $1.30s for the next 6 weeks. If we go by the market's numbers of $1.40 per 1000 boe/d production, then we must currently be at 500 boe/d because we are trading at 69 cents a share. What would that 500 boe/d break down to? 368 bbl/day and 740 mcf/day.
It will be interesting to see if the market is right in assuming that production has fallen this low when we get an update next week.
If NZEC does report 368 bb/day and 740 mcf/day numbers, then I'll be the first to admit that the market has it right and that we should be trading at 69 cents per share. I would still be a buyer though because of all of the potential upside to the stock.
Thanks for your history lesson and perspective rockman 9 9 8.
Oh, and they've barely touched their line of credit last I heard, so don't expect dilution to be coming.
Also, if the Origin deal doesn't close they don't lose the cash, it would go back in the coffers. And that would mean, oh!, that the market cap is half cash again.