Bullish
$TRCH Short interest up over 1M shares in the past month, most of that in the past 15 days. Days to cover now at 30. Ballsy move for anyone to short at these prices IMO. Current enterprise value puts Oro at ~$800/acre. Let’s just assume there is no oil (you’re welcome breakout king) and all they have is the nat gas they proved last year. Well, there is a pipeline right through their property and a major nat gas refinery (Marathon) just south in El Paso. I have no doubt Marathon would be willing to buy as a gas play at a price much higher than $800 acre. The other scenario is A35 does produce oil and someone buys at a price much higher than $800/acre. Either way, I would not have the guts to short at todays price.
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