Could be a fund is selling shares, even though there are few buyers. Tells me they want to get out in the worst way. Maybe they know something, maybe they don't. In any case, retail investors will be the last to know. Could be SFY's proposed loan isn't going to happen the way the company planned. It's certainly not a done deal.
The release indicated 10% on the notes. You had a post a few days ago indicating it was 10.5% and the amount was $650M versus $640M per the announcement. Now you are saying the interest rate is 11%.
Make up your mind already!
LOL.....Announcement indicates current production. Nothing in the announcement, nor the 10-K or other public documents, that indicates number of developed versus undeveloped acreage; holes drilled versus drillable; pipeline infrastructure, etc. etc.
It I simply your assumptions on what the buyer paid for the various components.
I do agree it was a fire sale but not the $400 per acre as you
David, cmon now...It was in the announcement, you can break it out. At least Bantam is using what he thinks is a normalized O & G price to derive a value, whether he is right is yet to be determined, but you are all emotion.
And you have the agreement that breaks down the allocation between developed, undeveloped, infrastructure, etc.
BS Artist is all you are.
I seem to recall that when they initially pulled the plug on SFY they sold a large part, but not all of their position. Wonder if maybe they were hanging onto that other part hoping for a miracle, and have just now thrown in the towel. Maybe this is CAPITULATION day.
Sorry I am once again accurate. Interest expense is adjusted for the pay off. What your not understanding is the price talk on this "new "loan is 11%.. Yes 11% So far not only have I been dead on but the stock is now 1.60. Nice call you made at $4
No small companies right now!!
nibbled in WTI.
MMP & MWE were buys yesterday and today!!
Waiting till Monday to buy on a dip.
Have a great 4th in TitleTown!!
BGR is ready to buy right now!!
Oh my PA PA......Ouch!.....nibbled on a little at 1.82...........out of the frying pan and into the fire! You holding any SFY? Market cap now about $72 million. Terry, the great value destroyer...
Do you understand? Despite your repeated attempts to fill this board with your pumping garbage, we are teaching you a lesson. We are determined to make sure you walk away with nothing. Get it? Got it? Good. Wheeeeeeeeeeeeeeeeeeegulp.
This will effectively wipe out the common shareholder. The shares won't be worth anything. But, the bondholders will be paid, and they will have an increased stake on the Board. Though, most upper management at Swift will survive this Restructuring....
Now listen to me folks. I warned you all, that this was going to happen. For months I was on this board telling you to join us in our short of the stock. I got mocked, and jeered, and called all kinds of names. I decided it wasn't worth the trouble. Well, I'm baaaaaaaaaaaaaaaccckkkkkk.... Now you shoe shine are learning an expensive lesson....
Interest expense will not be $136M. Currently running at the $73M but you need to deduct the interest expense related to the outstanding the credit line which will be paid off with proceeds from the secured notes.
The 2017 notes will be paid off with the proceeds from the sale of the Central Louisiana acreage. Watch and learn.
Once again, your posts are generally filled with inaccuracies, ie..see my response to your post indicating that CRK only received $400 per acre on their rec Eagle Ford acreage when in fact they received $3600 per acre.
CRK sold their Burleson acreage or $115M. If you took the time to read the 10-K, you'd see they had 31,654 net acres. that is $3600 per acre, not $400 as you posted.
If you further took a little more time to research Eagle Ford, you would know that the Burleson acreage is not the quality of SFY's Eagle Ford acreage.
Your posts are generally filled with inaccuracies.
Only agreeable item in your posts is waiting for the first lien documents. My prediction is that 70% of SFY acreage will be secured/collateral and there will be no restrictions debt repurchases. Time will tell.
Agreed. I also would mind seeing some asset sales but they can afford not to do that at rot gut pricing. Eagle Ford Oil and South Louisiana have good production and some running room and could contribute significantly to the debt.