If ppl sold now, they would be selling at a loss unless you were lucky enough to have bought during $2.5-$3 mid year period. Why are people selling while buyback going on. Curious this one is.
Talking about the shorts, 8.5%+ at the start of a drilling campaign to prove a relative low risk play. Something doesn't seem right. Market cap back to almost cash backing, something is wrong with this picture.
If normal metrics cannot explain it, lets play a few angles. Pegasus behind the shorts to make management look bad (for shareholder returns)?
Kangaroo is a dud?
Brazil is bad for oil?
Oil price is heading much lower? (considering production wont be for a few years, current oil price doesn't affect it that much)
The most plausible seems to be oil price heading much lower, cannot discount the other ones too.
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$1.76 |
Change
0.025(1.44%) |
Mkt cap ! $1.412B |
Open | High | Low | Value | Volume |
$1.77 | $1.79 | $1.75 | $6.040M | 3.416M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 20933 | $1.76 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.77 | 350 | 1 |
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---|---|---|
1 | 11218 | 1.760 |
2 | 44782 | 1.755 |
7 | 62109 | 1.750 |
1 | 3000 | 1.745 |
4 | 13051 | 1.740 |
Price($) | Vol. | No. |
---|---|---|
1.770 | 5782 | 1 |
1.775 | 5782 | 1 |
1.780 | 11214 | 2 |
1.785 | 7827 | 2 |
1.790 | 17294 | 2 |
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