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Houston American Energy (HUSA -21.2%) shares plunge after the company says its Cachirre #1 well...

Houston American Energy (HUSA -21.2%) shares plunge after the company says its Cachirre #1 well was unable to produce oil during swab tests and thus will be plugged and abandoned.
Comments (1)
  • farwest
    , contributor
    Comments (83) | Send Message
     
    Only 21% drop? The company is effectively worthless. Not a chance HUSA is worth current $50MM EV - compare with the better funded, better managed, better propertied PetroDorado and ask why is HUSA valued so much higher even after these dusters that show their concession is not the much hoped-for Corcel extension...

     

    Simply outrageous that HUSA traded near $20 last year. No wonder the company is under SEC investigation. It's not worth $1 right now.
    5 Jul 2012, 02:54 PM Reply Like
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