thanks for clarifying….Your re-rate logic makes a lot of sense...

thanks for clarifying….Your re-rate logic makes a lot of sense but it also omits a fundamental issue. The original 50c or whatever the SP was pre- new guidance was not believed by most and was universally doubted as evidenced by a) the short interest and b) a simple peer comparison EV/EBIDTA (F)

The point that I’ve been making over the last few days here is that the re-rate you’re talking about did not start with the lower guidance last week, it has been creeping in over the last 2-3 months and if you buy that conceptual idea then the re rate SINCE the new guidance should not be a coefficient of the change in guidance which the whole point of your post.

don’t get me wrong, this management is pissing me off big time with this amateur hour stuff but if you ignore the noise and focus on cash flow yield projected and the GC drilling results for the next 3 mth, i actually think this is a very compelling story