"I sit here and I sort am of suffering some cognitive dissonance. We see natural gas - spot natural gas prices at 52-week highs. We see Louisiana Light Sweet, Brent sitting at fairly healthy levels, yet your share price is hitting a new 52-week low." This was an observation from Richard Safranek of Wafra Investment Advisory Group, Inc. during Saratoga Resources, Inc.'s (NYSEMKT:SARA) 4Q13 earnings call. Before providing more background about SARA's stock price decline by about 75% since 12/28/11, here is an overview of how the company makes money.
SARA is an independent oil and natural gas exploration and production (E&P) company listed on the NYSE with a market capitalization of about $51MM and an enterprise...
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