Mark-
And the drugs don't work anymore.......
That sounds like the way I felt last August 31 after my portfolio got cut by 2/3 in a matter of 4 months. Of course, the margin balance wasn't too helpful at that point, either.
Here's an idea for you: Look at Force Energy, RRC (formerly Lomak Pete), OEI, BNO, CHK, OIL, and then you might feel better. A lot of these companies just won't make it through this tough period, but SFY is in good shape, still crowing about their coup on the Sonat deal last Spring/Summer, and wishing they had the resources to scoop up some more producing properties. Just spoke with them an hour or so ago, and while they have no idea of where the bottom is, they know that they're in better position than a whole lot of the other companies. They've been cutting costs, but so far haven't had to cut staff.
I did some studies last year on SFY's cost of NG, and I think it was around $1.60 or so, but that included depreciation and lots of other expenses. The company has cut its planned drilling activities tremendously, so is only pursuing the most market-friendly opportunities.
We could see $3 or $4, but this company will survive.
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