I am long. Remain long and buying more. I stick with facts: Wells : good. Statoil : good. Core pictures : good. Oil and gas found : good. Area big enough to be commercial : yes. Ground porous : yes. Insider buying : yes. Fracing chances of success : good. Other targets for new wells : yes.
Bad market : yes. Prior managment unique : yes. Prior management gone : yes. Current management conventional value builders : yes.
I invest for decades. Sometimes certain people in co. reverse growth curve. They start value too high - sell shares and go, then stock falls, but only to where price should have been when deal begun. Then share price rises, usually past where it started if success happen. The difference : the first high price was imaginary, the second high price real.
I like real.