Stone Energy Corporation (SGY)

[carusso]

$496 million plus 5% interest in loans is "pocket change"? Really? When the bank suddenly wants to redetermine the loan amount in this environment? You think they don't know oil prices may fall or be stagnant for months, even though people on iHub message boards do?

I am ignorant of the real significance of this big loan draw and bank's reaction, but it does seem worrisome.

I read somewhere that one third of oil producers are estimated to risk bankruptcy at some point because of the oil bust. I would consider those trading below $5-10 per share to be first on the chopping block.

I saw this as s great buy in 2009 and watched it grow from $4 to ?? - more or less a 10 bagger ... but near future prospects I am most uncertain about since this recent news.