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Re: catdaddyrt post# 2946

Wednesday, 11/18/2015 9:13:11 AM

Wednesday, November 18, 2015 9:13:11 AM

Post# of 13693
I agree, tough to call and like you say, a lot of debt. This stock, like almost all energy stocks, follows the price of oil and good (or bad) financial housekeeping takes a back seat to oil price, and now being a penny stock, it is much more sensitive to the swings in the price of oil. Natural gas prices rarely effects any of these energy stocks anymore because it's been in the same price range for the last 5 years. So if you're a believer in T. Boone Pickens, by all means, jump in. If you believe what the rest of the world is telling you, it's high risk to the low side. I'm in this stock and a few others similar to it with the belief that oil will recover to the $50-60 by mid 2016. The oil glut is so dominant right now that the very recent tragic world events haven't had much effect on oil price at all...which is a first. What does that tell ya?

From Pickens this summer and as of mid October he was still holding on to this belief....at least the $80-90 by mid 2016.
The 87-year-old oil tycoon and sometimes renewable energy investor, who founded energy hedge fund BP Capital Management, earlier in the year not only forecast $70 oil but also predicted a price of $80 to $90 a barrel by the middle of 2016. “If I miss on $70, it’ll be because it’s over $70, not under $70,” Pickens told CNBC back in July, reaffirming an earlier prognostication. “That is how confident I am.”
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