architect, BPZ Energy (BZP) -- In 3-6 months you will likely be very pleased with your decision. Not sure how you will feel about it in the next 2 weeks though!
But as you have said, the stock is very attractively valued at its current quote, and given that, my thought is, why try to be greedy and wait for a confirmed bottom, vs. getting at least some of your position now. The company has had their petroleum engineering firm working on a reserve report based on the wells they have already tested, and there remains a chance that the company could announce the reserves certified to in that report any day now (even though, based on the latest PR from the field it looks like they will hold off putting out any reserve reports until this 14D well gets drilled).
Also, we could see a "relief rally" of sorts in the next few trading days, where folks buy back into the stock after having sold it in the big dumping round that occurred last week. I believe many folks sold stock last week because of the massive dumping, in the belief that such dumping was anticipating some bad news that was about to come out. Now that the week ended without any bad news coming out, its now highly unlikely that there is any bad news that needs to get announced (companies typically wait until the end of the week to put out bad news). |
