YPF hated stock from Argentina. Repsol stake in it was 57%, nationalized by Argentina in April 2012 - 51% stake so Repsol was left 6%. Big worries about next developments. Dividends possibly to be cancelled and future was unclear. Stock fell from 50 to 11 USD. Now they search partner desperately as they have no money and need to invest in the development of its Vaca Muerta shale formation. 23 billions of oil barrels are waiting there. Possibly bonds of value 3,5 billions will be issued. Stock was now under 12 for quite long.