The problem as I see it is that even with a SP of 55 cents the Market Cap is still $249M.
To achieve a PE of 9 they need to achieve full year production of approx 600,000BOE.
Considering the last 2 quarters the production have declined I think the market is not willing to risk holding the stock until it sees quarterly production getting nearer to 150,000BOE.
The last quarters actual was only approx 50,000BOE.
Yes they have huge reserves but based on current production levels it will take approx 500 years to extract the oil from them.
That's why the stock is going down, I don't think you can just blame shorts, bots, dark pools and the weather.
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