MMR--where is the bottom? | TigerDroppings.com

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michael corleone
LSU Fan
baton rouge
Member since Jun 2005
600 posts

MMR--where is the bottom?



I made a nice hit earlier this year on MMR. I bought at 7.60 and sold above 13.50. It's dropped several dollars since yesterday and is approaching 7.50 again. It appears that investors are concerned about the report it issued yesterday regarding its Davey Jones well. Any analysts out there have an idea where the bottom might be? I would not mind getting back in at some point and making another nice hit off of this stock.






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TJG210
LSU Fan
New Orleans
Member since Aug 2006
22404 posts

re: MMR--where is the bottom?


What did they report?





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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
17034 posts

re: MMR--where is the bottom?


quote:

What did they report?


It's what they didn't report...


No flow data from the Davy Jones.






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Janky
LSU Fan
Team Primo
Member since Jun 2011
9315 posts

re: MMR--where is the bottom?


quote:

What did they report?


Nothing. That is the problem. They are not giving up any info on DJ1 and it is making people nervous. I personally think they are going to plug DJ1 up and take a huge loss. The real bad part is they are so cash strapped now that they will have to raise additional capital to finish out their other wells. JMHO.






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lsuguru
LSU Fan
Lake Charles
Member since Aug 2007
740 posts

re: MMR--where is the bottom?


They reported their high profile well has clogged perfs with barite. Suppose to acidize the well in hopes of removing the barite, for the well to flow. I may add some shares at the current levels to average down





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TJG210
LSU Fan
New Orleans
Member since Aug 2006
22404 posts

re: MMR--where is the bottom?


Yikes......One thing I had always wondered about that find was how were they going to make it profitable right now since it was largely a natural gas find.





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Janky
LSU Fan
Team Primo
Member since Jun 2011
9315 posts

re: MMR--where is the bottom?


quote:

They reported their high profile well has clogged perfs with barite


I would think 30,000 psi would clean the barite out for them. I think the issue is the sand not allowing the gas to flow. I hope I am wrong.






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michael corleone
LSU Fan
baton rouge
Member since Jun 2005
600 posts

re: MMR--where is the bottom?


Thanks for the info. The market looks like it has pushed up a bit since the morning low. I may stay away in light of the info all of you provided.





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Janky
LSU Fan
Team Primo
Member since Jun 2011
9315 posts

re: MMR--where is the bottom?


There will be a conference call today at noon, not sure if the stock will halt for the call. Oh, don't take any actions based on what I have said. I do not have any special info, just a feeling that something does not add up.





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GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
8637 posts

re: MMR--where is the bottom?


I have been keeping up with them but mostly bc I am in the industry and we are all interested in seeing if they will be able to pull this off with how deep some of these wells are. As an investor I would be very careful. They have put all there eggs in this basket and even if they do pull it off the low NG prices will hurt there bottom line for years to come.


This post was edited on 11/27 at 8:36 pm


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SAL MINIO
Davidson Fan
17th Street Canal
Member since Sep 2006
1991 posts

re: MMR--where is the bottom?


I bought 3,000 shares this morning at $8.21, watched it climb to $9 and then close at $8.18. Perhaps it will get to $10 and I will get the hell out. Forecasters say buy and look at the median price at $15 and the high of $21 in the next 12 months.





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GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
8637 posts

re: MMR--where is the bottom?


Thats assuming that can get a flow test on the well.





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matthew25
Ole Miss Fan
Member since Jun 2012
3548 posts

re: MMR--where is the bottom?


Amazing volume on this stock today.


This post was edited on 11/28 at 11:27 pm


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matthew25
Ole Miss Fan
Member since Jun 2012
3548 posts

re: MMR--where is the bottom?


Up one cent today at close. Volume way down (5M) compared to yesterday (34M). Average volume is about 2.5M





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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
17034 posts

re: MMR--where is the bottom?


I always thought being an insider would be more fun than it is.

Completely frustrating.







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GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
8637 posts

re: MMR--where is the bottom?


You work for MMR?





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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
17034 posts

re: MMR--where is the bottom?


Energy banker.





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JL
LSU Fan
Member since Aug 2006
2326 posts

re: MMR--where is the bottom?


They are going to make this well flow, just some hiccups. You don't spend the amount of money they spent on a well then just give up due to some clogged perfs, just my opinion. I'm a drilling engineer for another oil company. Of course i don't ever look at the economics of things, i just don't ever let a well beat me.





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L S Usetheforce
New Orleans Saints Fan
College Station
Member since Jun 2004
16762 posts

re: MMR--where is the bottom?


Dump MMR and get your hands on PETROQUEST....these guys have hit the biggest oil and natural gas reserve on dry land ever recorded in Vermilion parish.

How do I know this? My brother married a girl collecting a check from it......

LINK






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lsugradman
USA Fan
Sumatra, Indonesia
Member since Sep 2003
6252 posts

re: MMR--where is the bottom?


quote:

biggest oil and natural gas reserve on dry land ever recorded in Vermilion parish.


Whats it called? Whats the EUR?






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