re: Official Erin Energy (ERN) thread

The real catalyst will be the impact on cash flow, and what the income statement looks like rather than improved balance sheet. Why I say this is that I ran a basic (very basic) projection going forward, and tried to determine if they have enough revenue to support Micone at least initially, before a larger player gets involved. I think the answer is yes they can. I can see them going to market for money though, which could potentially pound this down even lower. The arrangements have been made with PIC for most of this. Probably all of this.

It will be interesting to see when they announce optimized choke setting flow rate on the new well. Strangely quiet, but their pattern seems to be Monday mornings.

There was someone buying on Monday, and buying large amounts of this stock. Folks that had stops got stopped out big time. One of the things I never understood was advice to always have a stop. Bad, bad advice in my opinion, but only bad advice if one doesn't want to lose their arse.