I think a lot of people do not realize that MXC is primarily a NG company with a small amount of oil production. It seems to trade more based on the movement of oil rather than gas.
NG is way underpriced in my opinion and now that we are entering the high season for NG I expect MXC to start moving up.
Even with lower gas prices MXC held their own because they increased gas production while decreasing their production costs. As gas prices move up profits will be up significantly.
Once it gets rolling with such a tiny float 10-20% jumps a day in the PPS are not out of the question.