FYI I recently reduced my holding in AJL and put the proceeds in LER . If I so feel like it at the time I expect to be able to restore my holding in AJL at lower cost in the rights issue .
I don't see how any long term holders can be positive about their experience in holding AJ Lucas .
Sorry but there were plenty of rigs operational in the best parts of the Eagle Ford and Bakken during 2015 . Many companies were not just drilling out (and completing) undeveloped sweet spots but infill drilling - i.e. not adding new reserves , just expensively producing existing reserves faster to increase cash flow to service debt to avoid breaching banking/bond covenants .
I was confident about shale , both U.S. and outside the U.S. but like almost everyone else , I didn't factor in the oil price war , growing inventories or phenomenon of completely illogical opposition in NY , UK , Europe , NT , SA due to misinformation from Big Green .
Do you think Art Berman is realistic or wrong about his assessments of light tight oil ?
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