If Hemi was worth .40, .50 up to .90 when oil was selling at 45per bbl and Hemi had one fifth of the Ks leases they do now, what must it be worth now?
MM offered .50 and were turned down by Keith who thought, correctly at that time, Hemi should be 1.00 by summer. MMs offered .50 not to take a loss but recognized the future value of Hemi.
Then the floods came and the scorned MMs have been working overtime to discourage shareholders.
But AS has not changed and in all likelihood will not. This is the gauge for future buyouts I would think because the shares are there for value adding purposes, not for dilutive, debt servicing, bill paying purposes. They will be used to create asset/fundamental value, whether for leases, equipment, companies, whatever.
Without debt Hemi was able to survive a 100 year flood in the hottest oil and gas locale in the US. Any share a stockholder added under a 1.00 was a bargain even it does not seem so now.
MMs are devious. Keith's necessary and strategic decision regarding 100% transparency give them operating room and basher/flippers take advantage.
But Keith has already laid out the strategy and there is nothing to this point to even suspect he is still not right on course.
