If I were to guess Tilley, I'd guess that SEA would drop to $0.95.
Despite less dilution for shareholders, I think the market might treat it as SEA apparentally not being as attractive as the company thought to the US market (at the present time).
I was always dubious of SEA going for the IPO without a recent reserves update. Especially in O&G sector, brokers love looking at Reserves and NPV figures, and SEA's reserves don't include any from TXN or any of the 2013 drilled wells, which is the majority of SEA's current production.
I will be using any downfall to pick up more SEA shares though (something I haven't done in a while), because if SEA can pick up some cheap EFS acreage (from financially-struggling neighbouring companies), then I don't see much stopping SEA from reaching great heights, provided the oil markets stay solid.
SEA Price at posting:
$1.01 Sentiment: LT Buy Disclosure: Held
