Apologies for my vague and slightly facetious comment and for categorising your opinion as naïve as you obviously have experience on the O&G sector. I had a rough morning.
'Soon' I define as in a timeframe of between 3 and 6 months. The price could dip down to below where I have bought also in this timeframe - I have no definite idea where the general market or the price of oil is going.
It is pure speculation on my behalf. I thought the result was fair and management commentary provided some comfort as to the future capex profile and the solutions to their current 'over stretched' balance sheet. I am relying somewhat on various reports I have read on the business also that break up value is worth in the $7 to $9 range per share based on a future price of oil in the $50 to $60 range.
If it does hit my $6 target then I would reconsider my speculative position. Also in the interests of disclosure I have no stop losses in place (will reassess if it gets down to $4) and my position is not debt funded.
5 Dollar Last Day Sale Once in a Life Time?, page-14
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