{"id":7508,"date":"2015-11-18T14:02:06","date_gmt":"2015-11-18T14:02:06","guid":{"rendered":"\/?p=7508"},"modified":"2015-11-18T14:14:42","modified_gmt":"2015-11-18T14:14:42","slug":"magnum-hunter-resources-corp-otcmktsmhrc-recovery-attempt-snuffed-out","status":"publish","type":"post","link":"\/articles\/magnum-hunter-resources-corp-otcmktsmhrc-recovery-attempt-snuffed-out\/","title":{"rendered":"Magnum Hunter Resources Corp (OTCMKTS:MHRC) Recovery Attempt Snuffed Out"},"content":{"rendered":"\n

The aftershocks of Magnum Hunter Resources Corp (OTCMKTS:MHRC<\/a>)’s latest quarterly report appear to still have some sway over the company’s share price. After a single big green session on Friday, yesterday MHRC<\/a> receded back down the chart, wiping Friday’s progress almost in full.<\/p>\n

Magnum Hunter was only recently a NYSE-listed stock. The company’s 30-day average share price slipped under $1.00 – the required level for continued listing on the exchange. This led to MHRC<\/a> moving onto the OTCBB marketplace, with a six-month period given by the NYSE to remedy the share price situation and resume trading on the higher tier market.<\/p>\n

MHRC<\/a> was struggling on the charts even before it was first informed of dropping below the price requirement on August 31. A combination of a bogged down oil market and the company’s own problems made for a disappointing 52-week chart. The Q3 report MHRC<\/a> put up on Nov 9 further exacerbated the price slide. Here is a brief version of the balance sheet contained in the report:<\/p>\n