I finally sold at 1.1 - officially my worst investment ever oh well love and learn
I did not sell due to Trent leaving, mainly I just can't see a way forward for them for some time.
Great holdings but no cash to continue drilling really, no feasible way to capital raise without a massive dilution, farm outs possible but in the current climate who would be rushing and with their balance sheet if a interested party did not think there was competition they might as well just hold off and monitor what happens, with falling almost no income now from the GOM fields even cutting back on everything the cash thats left just dwindles
If they suddenly find away forward I'll buy back, in the meantime better ops elsewhere (sadly)
ETE Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
