I think the market is voting on ERF with its sell orders

Although the selling is coming much later than I thought it would.

Not only the downward spiral of petroleum products has hit this stock but two recent news releases has been red flags of note...
(1) ... the cut in the dividend being more than some expected. Now this is interesting because if this company was based in USA it probably would of gotten rid of the dividend or cut it back further. In any event the dividend, which often was pointed to as supporting the stock price with its yield, has caused worry and a vacuum under the stock price.

(2)... the selling of land was meant to reassure investors that this would prop up the company. In the past the acres were pointed to as the future growth of the company with promising reserves to develop. Now the company is selling its future to stay alive today. Yeah... I know that they of lots of land left.... that is not the point.

These two red flags point to the classic mode of operation of a company cannibalizing itself to stay afloat . Not good.
Noticed that now this stock is trading at a five year low... lower than 2008-09. Market showing it does not like what is happening here. Long term buy and hold investors are all under water keeping this stock... and so far the trend continues to point downward.
I am running out of time... as usual these busy days.... got to go so cannot make my argument stronger here... well there is always next time

***PinewoodsBear***