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Started By
Message
re: Official Erin Energy (ERN) thread
Posted on 6/18/15 at 8:57 am to Choctaw
Posted on 6/18/15 at 8:57 am to Choctaw
I still expect it to settle back in the $6.5-$7 range. That range is optimistic given their revenue projections based on only OYO wells, but their potential with reserves allows it in my mind.
If it wasn't for management/cashflow/company past, the reserves could be valued significantly higher but I just don't see how you can do that without acknowledging the very real risk.
TL;DR
Given oil production and reserves, when adjusting for risk $6 is reasonable optimistic value in GenesChin's amateur mind
If it wasn't for management/cashflow/company past, the reserves could be valued significantly higher but I just don't see how you can do that without acknowledging the very real risk.
TL;DR
Given oil production and reserves, when adjusting for risk $6 is reasonable optimistic value in GenesChin's amateur mind
This post was edited on 6/18/15 at 9:01 am
2
Posted on 6/18/15 at 9:24 am to GenesChin
quote:
I still expect it to settle back in the $6.5-$7 range
i got in at $6.06. if i can get 10% i'll probably take it and bail.
Posted on 6/18/15 at 9:39 am to GenesChin
I wanted to make my first dancing bananas post, but somehow the gains have been erased in an hour. 
If ERN provided proof that a single drop of Lawal's tears could turn a gallon of water into gold, somehow the price would still drop. Heck, it'd probably drop to $3. 
IG, there was a rather large bid-ask spread in this first hour of trading, and I noticed the spread was often large during the stock price decline over the past two weeks. Could you provide any insight into what that could mean? Generally it is supposed to happen when there is a low float or the stock is thinly traded. I haven't seen thin trading, and my rough calculations say the float should be 20-25 million shares, not including any shorted shares. So why have I seen large spreads?
If ERN provided proof that a single drop of Lawal's tears could turn a gallon of water into gold, somehow the price would still drop. Heck, it'd probably drop to $3. IG, there was a rather large bid-ask spread in this first hour of trading, and I noticed the spread was often large during the stock price decline over the past two weeks. Could you provide any insight into what that could mean? Generally it is supposed to happen when there is a low float or the stock is thinly traded. I haven't seen thin trading, and my rough calculations say the float should be 20-25 million shares, not including any shorted shares. So why have I seen large spreads?
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