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Started By
Message
MMR--where is the bottom?
Posted on 11/27/12 at 8:50 am
Posted on 11/27/12 at 8:50 am
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.
1
Posted on 11/27/12 at 9:43 am to michael corleone
What did they report?
Posted on 11/27/12 at 9:48 am to TJG210
quote:
What did they report?
It's what they didn't report...
No flow data from the Davy Jones.
Posted on 11/27/12 at 9:50 am to TJG210
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.
Posted on 11/27/12 at 9:52 am to TJG210
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 
Posted on 11/27/12 at 9:57 am to lsuguru
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.
Posted on 11/27/12 at 10:01 am to lsuguru
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.
Posted on 11/27/12 at 11:03 am to Janky
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.
Posted on 11/27/12 at 11:06 am to michael corleone
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.
Posted on 11/27/12 at 11:20 am to Janky
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 11/27/12 at 8:36 pm
Posted on 11/27/12 at 10:59 pm to GREENHEAD22
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.
Posted on 11/27/12 at 11:16 pm to Sal Minio
Thats assuming that can get a flow test on the well.
Posted on 11/28/12 at 12:18 am to GREENHEAD22
Amazing volume on this stock today.
This post was edited on 11/28/12 at 11:27 pm
Posted on 11/28/12 at 11:27 pm to matthew25
Up one cent today at close. Volume way down (5M) compared to yesterday (34M). Average volume is about 2.5M
Posted on 11/28/12 at 11:32 pm to matthew25
I always thought being an insider would be more fun than it is.
Completely frustrating.
Completely frustrating.
Posted on 11/29/12 at 7:26 am to TheHiddenFlask
You work for MMR?
Posted on 11/29/12 at 3:38 pm to GREENHEAD22
Energy banker.
Posted on 11/30/12 at 7:21 am to TheHiddenFlask
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.
Posted on 11/30/12 at 8:06 am to L S Usetheforce
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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