Gregg, that’s correct. You’d still hold until profitable. As oil climbs to $60-$70 per barrel, etc., it does stand a chance of getting there or at least recouping a lot of losses.
Using the search box on the site, here are some of our recent conversations on the forum about RIG: https://logicalinvestor.net/forums/topic/oil-oilstocks/page/12/#post-40413
And here’s our recent conversations on the forum about OVV. Hope that helps. https://logicalinvestor.net/forums/topic/ovv-formerly-ecana/#post-40247