Miller Energy: Lawsuits, Debt, And Unhappy Shareholders - Sell It
- Miller Energy Resources is not turning a profit and financing costs are high (>10%).
- The company is involved in a number of lawsuits and is facing "accounting controls" challenges.
- While the company may have some valuable acreage in Alaska's Cook Inlet, it has not proved it is capable of profitably growing production.
- Shareholders are unhappy and the executive team's stock options have been cancelled. Losses are mounting.
- Miller Energy Resources is a SELL.