Ok?? :/ I got in at $2.47-- not 100% committed however. I'm always looking for small oil plays and I actually stumbled upon EXXI a few weeks ago. (thanks to seeking alpha) I'm very passionate about making money and thats why I'm here--- there's money to be made. Another reason I'm here is because I appreciate people's perspective and I enjoy sharing my perspective.
In respect to oil and to EXXI, there is money to be made here, it's CLEAR AS DAY. As I've previously stated: PEOPLE NEED OIL and the price will go up. BUT FOR NOW, people across America are losing their jobs (I have family that works for HAL) and they're being pulled from North Dakota because there isn't any work. It's exactly what Saudi Arabia wants: to reverse the growth of shale oil production in the United States and elsewhere. It is inconceivable that the oil market could quickly transition from OPEC domination to a normal competitive one. The many bullish oil investors who still expect prices to rebound quickly to their pre-slump trading range are likely to be disappointed-- just like EXXI (for now anyways).
Furthermore, EXXI's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk and disappointing return on equity. They also have to sell assets to pay down debt, they'll have to trim their hedges for 2015 and beyond and they'll need to refine the inner workings to get their shares back up to decent price. Who knows what production will look like for 2015, who knows what kind of changes they make internally and who knows how much debt they pay off. I appreciate the presentation provided but it isn't conclusive about anything. IMHO, the best that EXXI bulls can hope for is that a new and substantially lower trading range is established while the Middle East tries to dominate the world. I personally want EXXI to dip to all time lows (because i'm greedy) and then watch it explode. I know it will happen, but when?? IMO-
