ok so you obviously think when they forgot to disclose what was really happening with the wells around reporting time that that was OK.ie all the delays etc
reason this stock has dislocated from oil is that there is limited future in a roundabout - the company buys new wells - depletion - buy new well with proceeds - depletion - buy new well with proceeds on and on and on cycle repeats. The only way the SP will go up is if they sell the assets all at once ie they are taken out by a big player and then will all depend on what net assets they have on books at time ie oil less debt.
you are hoping on an event which may or maynot happen - Eric was a private equity guy and all one can do is hope he can negotiate a deal for at least 20c otherwise its just kicking the can dwn the road - BTW check out the remuneration report - theres only one winner here
SEA Price at posting:
5.2¢ Sentiment: Hold Disclosure: Held
