Why would 18 BPD lend itself to a substantial PPS
Post# of 39368
Why would 18 BPD lend itself to a substantial PPS uptick? The PPS has a better chance of moving up on the bottom technicals than the fundamentals. IMO it's going to take much more than announcing and additional 18 BPD to overcome the 3rd 10Q dilution. While the dilution might be built into the current share price; it continues to give the hedgies and MM's and bashers ammunition to play on human emotion. We have more buys than sells today and still the PPS is down. We need PR over PR with this type of news and I've learned over the last 2.5 years that nothing happens fast in the E&P sector; if it happens at all. The only fundatmental vs technical catalyst I can see really driving the PPS upward by 2X-4X current levels by EOY is the confirmation of Belize in one form or another. 20 BPD from a few wells and follow up PR's might start to instill some TECO market confidence but then the TRRC reports and filings need to back it up. I said earlier that I won't believe any predicted BPD and I won't let myself get excited over today's PR. I have $9k sitting in my checking account and I can use a good portion of it to buy the cheapest TECO shares available for the last couple years and yet I hesitate to do so. Why am I hesitating to buy after the 3rd 10Q and all the 2012 PR's? Is the PPS going lower? I thought my .03's, .028's, and .0275's were cheap but I gues not. TECO has zero credibility with me until proven otherwise. On the other hand I am holding all my existing shares and won't sell. Thoughts?