To me. $3 is of great concern coming into winter. It will make a lot of small producing wells like all our wells in oklahoma not viable and probably be closed to save the cost of producing at a loss. This is not great considering we have just spent millions getting them operational again. Starting to look like more like a salvage sale every day we get closer to 30 June.
I feel now the only thing I'm holding onto is that JC & PC have about 17m options between them and they are doing everything in their power to crystalise this before 30 June.
The $17m question is at what price? This will also be dropping like the winter gas prices.
Not trying to be negative but i can only see 1 positive. The 17m options.
MAE Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held
