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I believe that the above figures are old ones from the 10Q for the quarter ending June 30, 2014.
According to the most recent 10Q for QE September 30, 2014 released on November 14, 2014, HUSA’s ” estimated capital expenditure budget for the next twelve months, ending September 30, 2015, is approximately $3.5 million and relates to (1) the planned drilling and/or completion of nine wells in the U.S. and (2) the anticipated drilling of two test wells on the Serrania concession and seismic shoots on the Los Picachos and Macaya concessions.” The report goes on to say that HUSA has approximately $5.5 million in working capital of which $5 million is cash.
Fair comments. I'm banking on Hupecol and Cannecol as much as HUSA. With so much "misfortune" and bad decision-making regarding the partner they chose in CPO4, HUSA needs an operator who has a track record of success. Hupecol may be the ticket.
Actually I am not taking shots at anyone...I hope that you are right... I have voiced my opinion and displeasure with the EXECUTION by the management.. you have every right in the world to be on either side of the reasoning- if you think they can get it done in the next year then that's wonderful--I hope again that you are right...I read the docs and ran the financials-- there is one solid year left here-- mark it down readers-- will FARC let everyone back in to get working? how would I know...no way for me to tell...here's the deal: I need to make back over a half million bucks--i'd love to see this thing at 5 dollars TOMORROW... you think yardhole follows husa any closer than I do? I doubt it... THAT guy is a complete moron (his assessment post had a mere seven spelling mistakes)....of course I am an idiot as well-- I stayed long because I sincerely believed these guys could get the job done... this breaks up over a dollar? a lot of investors will look at it very quickly--- but it has to do something really positive by the end of Spring 2015...if you read the docs you will see that they can not go out and borrow any more funds and certainly can not write any more options and warrants--they need REAL money investors who TRUST them....
I wish them the very best of luck-- as I wish you the best as well... again I hope that I am proved wrong and it's sitting at 4-5 bucks soon...and NOT pesos....seriously, I wish you only good results. I know the pain of getting slammed too well--it blows. I am watching every day very closely--hope you win...because if you do I will as well-- it would really help me out big time obviously...but will I tell anyone to buy it? sorry, just can't...
looking forward to seeing their next report, they have done a terrific job locating these overlooked companies with breakout potential
Tim Tuttle will call me an unrealistic proponent of the company and management, but so what. Personally I am absolutely convinced we are on the cusp of a move much higher in HUSA. Here is my case - take whatever shots you want at it...
1) FARC and Colombian Gov't - Anyone who is following the peace talks in Havana know there is momentum on both sides to get a deal done. The kidnapping of the general early this week was immediately followed by FARC leadership saying they would get him (and others) released. Very positive sign to me. It has been the concern about security due to the FARC influence in Serrania that has delayed drilling there for years. If the threat is removed, drilling begins.
2) The Property and Geology - Serrania is directly north of the Capella field in the Ombu. Cannecol Energy believes there could be hundreds of millions of boe in the concessions south of Serrania. And there is a fault line thjat runs from the Serrania block all the way past the Ombu field. And Serrania is lower geologically that Onbu. All this means to me that HUSA could have an eighth of a field as big as Ombu.
3) Hupecol - They are smart operators, much better than SK, I believe.
There you have it. My case.
Sentiment: Strong Buy
Forget the radar. While we are watching, the price is already moving up.
Timing is everything just like the biotech stocks that move up big a year before any big news like FDA approvals, etc.
Sentiment: Strong Buy
Tim, you asked if anyone is doing the math. I am. I am doing it in my head because it is fairly straightforward and simple. In fact, the whole company is based on a fairly simple concept. It is a way for speculators to invest money in oil and gas wells without risking money in any individual particular drilling operation. The risk is spread out among all investors and over numerous drilling operations.
Concerning the math, you make some good points that the money in the bank won't last more than a year or two more. This is true. But in my mind, once HUSA gets past the shareholders lawsuit and the SEC probe, which cold take another year maybe at most, then it will be time to dilute again. Dilution, when needed, and for a specific purpose, is the way HUSA does business and the way it avoids creating debt. Just got back from Houston yesterday. The city is thriving. It never really went into recession. Believe me, there is money in Houston to put into oil and gas operations with HUSA once the decks are cleared of the disgruntled shareholders and the SEC. Just ballpark, I would say HUSA will get $10 million in funding from 10 million shares placed at $1.
Concerning your points about the settlement, all I can say is that all I need to know is that it will be funded by insurance. My guess is that there will be no admission of guilt or any wrongdoing by HUSA. I take it as being worth the insurance company's time and effort to just go ahead and pay the $7 million. No doubt HUSA's insurance payments will go up. Its kind of like auto insurance. Better to have it than not. Anyway, all the plaintiff law firms need to get paid. Again, my guess is that the disgruntled shareholders will only get pennies on the dollar. If they are smart, they will buy HUSA at this level at some point and make back the rest of their losses the right way.
$3 million or less to the SEC and then we're done.
Hi...I'm looking at 5 mln in bank....over 1.3 mln in annual expenditures... Over 3 mln in 2015 Colombia and thats before any potential penalties- thats why there is the full disclaimer in the 10 Q ... Thats just barely enough for one year without seriously iincreased revenues.... Anybody doing the math? They are telling you and me: one more roll... If it works its great - BUT it wont attract New money... Pretty simple fellas....its do or die in 2015... No ten year plan... Its MATH.
another strong performance from these guys today, great report and great results for their members
Our estimated capital expenditure budget for the balance of 2014 is approximately $4.523 million and relates to (1) the planned drilling and/or completion of ten wells in the U.S. and (2) the anticipated drilling of two test wells on the Serrania concession and seismic shoots on the Los Picachos and Macaya concessions. Our drilling and seismic plans and budget for 2014 may change based on field conditions and other factors beyond our control or the control of Hupecol, and as such there can be no assurance as to the timing of these operations, including whether or not those operations occur during 2014, and our ultimate capital expenditures with respect to such operations.
We anticipate that our cash on hand will be adequate to fully fund our operations during 2014, including our capital expenditure budget. If, for any reason, we are unable to fully fund our drilling budget and fail to satisfy commitments reflected therein, we may be subject to penalties or to the possible loss of some of our rights and interests in prospects with respect to which we fail to satisfy funding commitments. We have no commitments to provide any additional financing should we require and seek such financing and there is no guarantee that we will be able to secure additional financing on acceptable terms, or at all, to fully fund our 2014 drilling budget and to support future acquisitions and development activities
Thumbs UP to Sierras pump on Seismic testing in 2015-- something that may or may not happen...by a guy who hasn't been on this board in years... Thumbs DOWN to a guy who has read the all the docs and runs the financial numbers and ASKED for a debate on the numbers....that's all you need to know about the husa board.. and I shouldn't be so upset about a 98 % drop... hmmm, ok......BUT lets applaud the PUMPER who is getting paid by the guys who want to sell the rally... the same guys who pumped it for 3 years....amazing, no wonder its in the tank...
Not a bad suggestion... Except i own a bunch at 15 bucks and im waiting for the bounce.... I broke down the financials- burn rate& 2015 expected investment expenditures- along with various legal sundries...5 mln in cash - 60k in for the quarter... Potential fees and fines? Look at the disclosed fin data and run it- if im not mistaken husa has one more year or bust without added income- they are going to to roll all the dice into south america- they hv disclosed the strategy in the filing.. So why get out at 22 cents??... They hv one last turn of the wheel unless i missed something... Appreciate any all insights on this.... The numbers currently will not attract new players... I dont hate the ceo- he seems like a nice fellow- im #$%$ at total lack of execution... And now they are paying off civil lawsuits??? That really blows.
" Between The Devil And The Deep Blue Sea_Houston American Energy (HUSA) To Rise On Positive 3-D Seismic Shoot Indicators On CPO 4 Block Predicts Sierra Equity "
You are torturing yourself! You hate the CEO, the company, etc. Why not just sell the stock and move on to other opportunities?
Sentiment: Strong Buy
aren't they admitting something if they settle the lawsuit? paying 7 million even if the insurance company is absorbing it ....husa has 7 million in bank and can still pay out 7 million... the math is confusing here.... why settle? simply to get rid of the lawsuit....but I thought husa didn't do anything improper.....yep, i'm very confused here...and this doesn't set a precedent for MORE lawsuits? the lawyers in this mess have to be laughing their butts off....that was easy pickings..... maybe we should all reconsider our options... apparently the company is willing to accept responsibility .... again, i'm very confused by this action...but it certainly does lend some credence to the debate of what everyone knew...