I've owned MHR before on their 12,000 bbls of oil a day thing without looking at filings then the 10Q came out and it was extremely lower their actual production and they broke no law as rules allow them to say the whole well production amount in news releases even though they only have say 10%...
MadMoney yesterday (Monday) the CEO said something about so many bbls/day more in last 6 months (3800, 2800, what was it...?), so does that mean net or puffy nonsense?
One thing they're at their highest price since I've seen, but I shyed away 2 months ago and I'll continue to.
I don't like all the preferred shares and payout needed capital for drilling and leases to them... They need to do what Range Resources did after they merged to form Range Resources they paid off preferred shares (called-in) and paid off lots of debt...
If they have all that legal hype production they could but its just a fancy penny stock (as CEO has a penny stock fluff news release attitude or whoever came up with that game plan)... I'l keep watching for signs of a real company, like MadMoney yesterday... but still worries they're still hyping production numbers. I read about the rule in the 10k from what 3 years ago? Yeah don't ask you, but just incase it isn't in current 10K's about the rule to hype the whole production of their partial ownership.
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