Petroquest Energy Inc. (PQ)

[hamilton]

Last week's trading in PQ must have been among the worst weeks of all time for percentage decline. I thought it might be related to PIK payments in stock on the debt, but it looks like that option is finished and all interest payments will be in cash going forward. I guess it's pure selling and shorting in the expectation the Q1 results will be a sequential back slide. Goodson tried to finesse capex budgeting until the Q1 call, but it only created a credibility problem for current production.