Agree with most except management having done well. What have they actually done that could not be done by a reasonably qualified project manager?
When they were supposed to step up the game during the transformational CR (divestment) it was soon revealed that it was all about their personal gains first and foremost. The shady behaviour made large holders and institutions to fight for the exit, and the likely hood of them ever again trust the management is very small.
Last financials shows 1,3 or 1,4 M$ admin costs. Most be some good looking receptionist. What admin costs come to that level?
The team hired in are top qualified in exploration. Great, if you are exploring, not so good if you are linking wells to pipelines and going into production.
I do think the price will go up eventually. Well, hope is probably the right word. Kind of surprised the winter didn't provide some relief. I would imagine many retail investors are looking at opportunity costs having to hold this another 12-15 month. Best thing would be if RRE took over the scraps and took us out of our misery, but at current price levels it takes more talent than the current management has demonstrated.
If 2,2 breaks to the down side the measured move is 1,5 first stop and then 1,1. The upside having 2,9 as resistance followed by 3,1 and 3,9. In other words we are ranging as long as we stay between 2,2 and 2,9.
Perhaps the alien intelligence(AI) software have better suggestions.
HHR Price at posting:
2.2¢ Sentiment: Hold Disclosure: Held
(20min delay)