Denbury Resources Inc. (fka DNRCQ)

[King Ed]

I like that. Always say that it is better to average up than to average down. It is a much better strategy.

Have been waiting for DNR to break through $2.60 to add more shares. Going to break out to upside once we get past that area of resistance. Next real resistance is at $3.30.

Based on price of oil and DNR financials, it should already be trading in the mid $3 area. Poor hedges and backwardation continue to haunt DNR and many oil equities right now.

Have you seen 2018 EPS estimates? DNR should be trading much higher from a PE perspective. Bonds are recovering again as well with the main group I follow moving back up to $85 again (85% of face.)

As soon as futures curve improves and we move back into contango, things will change rapidly.