If the consensus is that there is no short term gain here and we shall have to wait at least 6 months for anything to happen then why do we bother holding stock for this period ... why not simply sell our stock now and buy back at the same level (or more likely reduced) level in about 6 months time ... coz my bet that in 6 mths time if there are no intervening positive announcements/prospects of this stock you can be sure the company's cash position shall be even more culled (remember that our good friend Steve still gets paid $300k plus bonuses for sitting around 'hoping' that the newly acquired assets will appreciate in value somehow perhaps by osmosis, etc.)
The same way there is hardly any incentive for new buyers to purchase this stock if all the talk is simply "wait and see" or "be patient" ... fact is ... the company (Steve Graves in particular) has lied to us in the past with his silence and veiled comments (cf. declarations of Commercial Production when they have not been) and IMO will most likely continue to do so.
S/Port ... you can go blue in the face propagating the theory that the company needs to keep things commercial in confidence and therefore we should wait and be patient ... but that theory (excuse?/lie??) no longer washes anymore ... you and your regular posters (one who I note is conveniently and notably in "absentia") vehemently maintained this theory 6 months ago ... you were using this 'commercial in confidence" excuse as to why Steve Graves was not issuing the announcements was because they were acquiring nearby land around FP and they didnt want to let their competitors know about it ... well what a lot of codswollop that theory turned out to be! ... turns out the reason why they had withheld announcements is because it was a duster in the first place ... only 50 bop's on initial production and that was it ... and they knew it right from the beginning ... yet, after nice ramp up by both Graves and McIllwain (VIL) on this 'exciting new play', people were made to 'patiently' wait weeks and months on a steadily falling SP in both VIL and GGP only to be recently told there was nothing there... so why should permian basin be any different??
GGP Price at posting:
1.5¢ Sentiment: None Disclosure: Held
