one problem with that #.... there weren't any real shorts...there are 52 million shares outstanding... 12 million cap....what was the outstanding short position? almost zero---its residual short book---its nothing at all... 5 million cash in bank.... do the math.. MUST hit domestic wells.....we're grasping at any straw now...that 5 million wont cover ceo salary and legal fees over 3 years..... execute and survive.
If its FARC we are waiting for good luck boys and girls.....say a prayer... I tried THAT with husa---didn't work.....so it goes...God owes me one....
HUSA IS drilling in the USA. Potentially 12 wells domestically. And if the FARC becomes a non-issue in Colombia, the stock will already be higher. If you have looked at the April, 2013 investor presentation on HUSA's web site, you can see where Hupecol is planning to drill once they get the OK. Looks like 2 nice formations in the Serrania concession.
Sentiment: Strong Buy
I would pay little attention to much of what you see. For example, few were paying any attention when SWKS moved from 5.00 to 7.50 and back to $5.00 or there about. or when MU was at around $5.00. Think about AA at $8.00. The Market-place pays little attention to the like's of HUSA,SSN, DEJ or HTM. Few paid little attention to RAD at $2.44 on 4/19/2013 or HGSH at $0.40 on 8/21/2012. You can almost bet that few if any are paying any attention to HGSH from 8/6/2014 to now. Advantage-here. Thanks Later.
Traders target PLWY as the company enters the digital apps market now worth more than $23 billion annually. There’s even talk of a $4.50 price target
you know you have problems when there is a discussion of terrorists and guerillas in you conversation about the company. Why would anyone drill anywhere else buy USA??? This is the place...period. Not S. America, not Russia or Ukraine, not Iraq or Iran....USA!!! USA! USA! Call me when they get rid of all that trouble down there.
Agreed .... Actually tho i am a very long term investor / i hv shares on for 5 year .. First got in at 9 .. Bought more at 12... Bought more at 19 bucks... I still have them all. So it goes. I am looking at GTAT .... Iphone glass/ solar etc.. Good company...as far as state of national affairs husa was 20 in 2008/09 when we were losing 850k jobs per month and stock mkt was tanking and housing mkt was at the lows... Now stocks are at all time high- over 20 months of job creation over 200k and housing mkt doing well... As far as middle east u wud think husa wud be higher on chaos..... So it goes....
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Sentiment: Strong Buy
Tim and Crop,
I agree things are quiet on the board and with the stock, but I don't think things are quiet with the company. Per the 10Q they have 4 wells awaiting completion and 8 projects in various states of drilling. They also may find the Serrania situation improving, as the Colombian government announced yesterday direct talks between the military and the FARC. In addition, I think the timing of the SEC complaint is less than Crop...comment period ending in mid-October, hearing done by mid-December and then an initial ruling. I think that happens by February since this is not a complicated case (regardless of which way the judge rules). I also think the Board must be making contingency plans if the CEO loses the case. All in all it is a busy time for the company. And with HUSA trading at a market cap of 66% of the value of their tax loss carry forward (with no value being given to the domestic concessions, Colombia, or the $6 MM in cash they have on hand), I think it is a time for smart investors to either add to positions or initiate one.
Sentiment: Strong Buy
Agreed....Following HUSA right now is like watching grass grow... changes that are hardly noticeable. I also agree with Cropduster that until the legal issues are resolved, nobody will touch this stock (the only ones watching it is us folks looking for an opportunity to sell). My take is hold out for a while (maybe years not months) and see what happens. Keep your pulse on the stock because there could be a random spike for whatever reason... Who knows? I would also say look for other gas investments...there are a ton of gas companies to look at. I also trade natural gas futures via a ETF....but there are risks with that too.
Actually, Tim, my sense is that everyone is just kind of bored with HUSA at the moment. I know I am. I think the SEC charges and the pending lawsuit jury trial have just kind of put a pall over everything. This feeling is somehow compounded at the moment by the sad state of affairs in our country and the world.
In my mind, the lawsuit and the SEC charges are bogus and without merit, but you never know till the fat lady sings. My take now is that this should all be resolved within the next 12 months. But until they are resolved, we may not see much interest in HUSA.
I think the strategy now is for HUSA to quietly lay a base for future operations while vigorously defending against the lawsuit and the SEC. Either one has the potential of ruining the company. But I do like Josch's take that the company would survive such a hit and continue to do what it does best.
I know you are a trader for the most part, so good luck with that. I am a long term investor, for the most part. I may take a look at selling some now and slowly accumulating over the next 2 years, depending on how things work out with the lawsuit and the SEC. I read your post about being advised to sell HUSA at $12. That reminded me about the fact I should have sold Dynegy at $10 some years ago. Things would have been different for both of us had we acted back then. Anyway, water under the bridge.
What always sticks in the back of my head is the residual value of HUSA's Columbia concessions. From what I can tell, Serrania, Los Pichacos, and Macaya could be worth up to $100 million, if you do the comps with the Ombu block next door. That would be about $2 a share. I guess that is what the lawsuit thinks they are going after. I'm going to sit in the courtroom and see if the judge and jury gives it to them.
By the way, I am still upbeat on HUSA in the long term. I don't want to sound too negative here, but we have to face reality.
HUSA def needs some more production out of its holdings! I agree this is a hold for a while.... I would rather ride this stock down to zero than sell at these prices... Hell, even though I would love to get out of this stock and move on... I would be a buyer again at 18! In the mean time HUSA is a skid mark on my portfolio.... not that I am that heavy here so I shouldn't complain... I see my HUSA stock as gambling money....I'm willing to loose it for a chance at big returns (at least that was my mindset getting onto this stock)
nah man--i'm not surprised...it mite take a few days to gradually rise...longs are staying put--weak short term longs--day traders puked out---I got hit at .225 and .23 for really small loads-- a bunch of 100 lot fills-- several buyers waiting for .20 and .18.... what I see is potential buyers looking at the burn rate vs revenues--even tho the revs are improving-- the management needs to find more producing wells... good story yesterday "a decent start" leads to finding a bottom-- but for a solid rally they need to report more hits-- remember they will not officially disclose the dry babies--but if they have luck any of the new productive stuff they can report immediately...20/24 Is a good place to accumulate for a hold....was interested in comments on sec timing--and I think that's good analysis--probably throwing it out there after civil suit was reversed...does it pass the smell test? I dunno...I have been on this stock with big positions and big losses for 6 years---but I don't remember that guys news releases. altho I did read the billions of barrels potential ( one reason why I got in)..is that guy claiming he was paid for services? whatever that deal will go where it goes-- management can only focus on hitting working wells-- as "grvgll" has pointed out numerous times--they are plenty out there...I think by next week you see it drift a bit higher-- maybe 28ish...I wouldn't sell any ..you're feeling the bottom for now......and just for the record: I am NOT involved in any civil suits-- I took my losses...altho I am still planning a few beers with my pal in NYC...
Not much movement after the 10Q... As of 3:15 PST the stock is still at 0.23.... I was hoping for maybe 10 cents out of this report....but I guess the SEC has everyone looking elsewhere?
Very good point, Doorsheim. It has been ordered that the administrative law judge will hold a hearing on the SEC case in 30 to 60 days, but then he has 300 days more to produce a decision. This 300 days should give the shareholder lawsuit time to go before a jury, if Judge Harmon does not just go a head a decide it herself or possibly even dismiss it again based on its merits. I have said from the start that the lawsuit is a frivolous and bogus case. Plus, Judge Harmon has already written 90 pages on how the plaintiffs didn't have a case (because the charges were insufficient).
Anyway, good point about the SEC covering itself. From their point of view, why waste all that time and effort investigating a company and then not be able to go ahead and punish the company. From your comments, it does look like the SEC may be putting the burden of decision on Judge Harmon and the district court system. That way, the SEC is covered either way. This is actually works for me, because what I want to see now is a jury trial in Houston of the shareholder lawsuit. I just can't see a jury of Mr. Terwilliger's peers convicting him and HUSA of doing anything illegal. I intend to sit in the back of the courtroom the whole time and take in the entire proceeding. In fact, I would be more than happy to take the stand and give an impact statement from a shareholder who will be hurt if the jury finds in favor of the plaintiffs.
This is getting interesting now and I hope HUSA is starting to feel charged up to defend themselves. I have faith in the American system of justice and I will place it in the hands of my fellow Houstonians.
Cropduster, your observation regarding the timing of the SEC action raised a possibility that I hadn’t thought of: the SEC hedging its bets so it’s covered regardless of outcome. Politically it would look bad if the SEC let lapse a case in which a lawsuit later proved fraud. The safe bet is to open a case which could always be closing later based on something like “new information” or “the results of our investigation.”