I agree...next run up to that $4 mark and I'm going to take profits. The thing is, before the SEA annoucement, we were trading at about $2.50. So it's just the SEA that has brought us down, not bad results or anything of that nature. I'm confident we'll see some results in the spring, maybe earlier...but I'm curious to see what Dr Faraj and this new venture team have in store. If they could get us into some overlooked plays and land that could be huge.
Frankly $1 (no utica) is fair price...but when markets are like this it really doesn't matter. I mean Encana is trading at $24 and just weeks ago was at $33. It's clear the market is oversold so I expect a rally soon because this isn't 2008...and frankly a downgrade in credit is bs because a country like the US will never default because it prints its own money (some top guy said that and it really is true)...stocks are trading at the cheapest levels since 2009 so something will give. For us though, we need to hear some news.