Well folks,It has been 2 weeks since the global selloff started...

Well folks,

It has been 2 weeks since the global selloff started & SGY travelled far better than I expected on the back of unlucky news. Having said that, the SP has been punished & it's not far off my downside risk price target now. I really think they deserved more, but i guess luck & crew experience are also important factors in the drilling business.

I still hold shares (although traded some out to derisk) & will be keen loading up more when it gets to the low end of my downside risk target as SGY still has a lot of firepower in the medium term.

The big one that everyone will be talking about closer to June is the multi-million barrels potential oil play. Look at how SP reacted to 40-100bcf gas pre-spudding, & u can then imagine how SP will react to June oil play spudding.

ST though, an update is absolutely imperative. I will be keenly waiting for re-entry date confirmation & the company's comments as to how they can avoid the drilling problem next time around.

GL all in the near term
JL