Lone Pine Resources is a 2011 IPO that's been annihilated. http://stockcharts.com/h-sc/ui?s=LPR&p=W&b=5&g=0&id=p36807261474 I like to follow IPOs because when they break, they really break. There is no support below and every holder has a loss, so selling can be extreme. That appears to be the case here. Here's how it adds up, roughly: $600mm of easily valued oil producing assets + Zero to $400mm of nat gas acreage in Alberta and Quebec - $388mm debt = $200mm - $600mm of value/85mm shares In other words, this is conservatively worth at least $2.50. Stock is down at $1.18, could be a double in a few weeks as they sell off some acreage and reduce the debt.