my thinking why this was a good punt last 2 weeks was that when...

my thinking why this was a good punt last 2 weeks was that when they finalised North Stock Yard sale it might be a turning point for the co for a few reasons

first it brings the debt levels down to a far more manageable level

second and perhaps as important as the sale price achieved was very close to their claimed value for the asset the market would start to potential believe their asset value claims and start to reflect that in the market cap which was trading at a very large discount to the claimed asset value

I was reasonably confident the deal would go through because since the deal was struck the oil price and rhetoric around the oil price had only gotten stronger