NY was confident that reduction in the stabilised rate was attributed to condensate or water banking immediately around the wellbore due to multiple open and closures of the well during recent operations, or by adverse reactions to fluids introduced into the wellbore. Such tight wells are sensitive. This issue is common in early stage tight gas plays but remediable in future wells. Perhaps this fact is sinking in. Today’s price action showed that towards end of day the much lesser traders were selling in fear and it appeared like a last day down. Expect start of recovery tomorrow. I guess that many full of fear posts had created more negative sentiment.
Top 20 shareholders own 19.5% and NY is the largest shareholder. It’s not in his interest to pump & dump.
EXR Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
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