A bargin for the taking on update one day early
Here is an independent E & P with actual value in the $8.00 range, selling for just under $5.00 on short activity.
AXAS will be releasing their 2nd Quarter data tomorrow, but here is a link to a current update on Yahoo Financial.
They are doing just what they said they would be doing, with continuation in July, and an estimate even higher for the full year.
There is a hard core group of shorts who beat the price down each quarter just before earning release, and it seems to "pop back up" shortly thereafter.
They are not dependent on $100 oil because they have relatively low cost production, which is going "gangbusters" in Texas, with good plays in the Baken for the future.
They sold some more stock recently, the first in a long time, so they could increase their CAPEX to get more properties, and increase their rate of production, expecially in the Texas areas, where they have 100% ownership and control.
Do your own DD, but for investors, not traders, this is a "liquid gold mine".
JMO and worth exactly what I am charging for it.