Were you also the one valuing all the sub prime mortgages in 2005-2007? "yeah their great no problem" wait what's that crashing sound I hear in the background. Oh it's only the world economy collapsing. Oh well.
Takes over the company a year ago to lead it to greatness. Stock price when he took the reins $10.13. Stock price now $4.54. I think he is on the ERF payroll and was put in as a plant
mr.h_mentor: Thank you for your comments and opinion. Could you please tell me where to find the information stating extended covenants. Is this on the company's web site or another site. You state the company will have their covenants extended and ratios increased to stay in business. Where can I find this information. Thank you
Just like one CEO of IBM stated years ago, " why would anybody want a personal computer " don't believe the BS from a lot of future prognosticators, when push comes shove it ends up hot air!
Still an under $5 stock. Numbers talk and BS walks. How can this new management team change the price of NG and crude which is what they sell. Future outlook zippitty do da
Do we know for sure that there even is an active case? Did "John Doe" get replaced by a real person? Otherwise, agree with georgia's thoughts. Long 11K.
Sentiment: Strong Buy
Why, they're so good because (1) they have new management, (2) they have a (yet another) turnaround plan, (3) they are selling assets (left and right to pay the bills), and best of all, (4) they're diluting the crappola out of the stock (50% of the reasons why it's tanked). Think about it...if they liked it at $13, they must LOVE it now.
There are several textbook examples on this board of why an investor must use stop loss and/or trailing stop orders. But the most vocal ones here are the ones who are least likely to able to admit a mistake, therefore would never use these orders, in case they turned out to be wrong. It's easier to argue a "turnaround story" than it is to say "gee, I made a mistake".
Saint Ador and the rest of the cheerleaders have been "scooping up this bargain" since it was mid-13's. Never in the field of human investing has so much been paid by so few for so long.
Your half right the property will be sold toward off BK as crude moves toward $60 more and more will be sold with no hedges income will be less and less. Check reality Ace if they are so good why are they a $4 stock
My background: commercial banking credit analyst and former ratings analyst.
PWE isn't going bankrupt....thats crazy talk. Their noncore property that could be sold would pay off bank debt entirely. Debt/equity book value strong; cash flow(after expenses) 4X dividend.
PWE will have their covenants extended and ratios increased to stay in business. EXXI did the same thing to avoid bankruptcy at least for now. All dividends and capex will be cutailed
Gartman,...the man's a fool and has made more false predictions than Cramer. I wouldn't bet on anything he says..check out his record and you will see that he's more fallible than "wrong way Corrigan"..If this is the best research you have ..you be a fool too !