Then Sell..................or Better Yet SHORT in Canada.
And set Your Sell Stop @ 1.75 Canadian.
The real problem for the stock is the hedges on natural gas and oil.
They drop to 25% and 30% of production. So if demand keeps
dropping in China and other places and U.S. production keeps
increasing there is going to be price pressure on the downward
Also, the hedges that are in place for 2015 are at a lower price
than 2014. So income in 2015 looks problematic.
Also, the netbacks on each barrel of energy are only $27. Compare
that to Lightstream where the netbacks are close to $50.
I see real risk to the dividend in 2015. If my analysis is correct
the share price will have more weakness in 2015 than it did
#$%$ they doing all day that they cannot monitor the companies infrastructure, to prevent these shut-downs!
Not only losing shareholders value, but company also getting bad reputation in Oil/Gas fields .?
The management salaries should tied to sshare-base compensation ..Terrible leadership.. Imo !!!
I am more interested in what an investors' impression of a situation is, rather than his ability to have learned perfect English.
Integra brings up some valid points. One, being the Gorilla in the room. Arguably he may not know as much about THIS company as some, using his knowledge of the success of another company and its business model is a valid argument. If SPYGLASS does not turn this around in 3 months, the end result is a lot of people jumping ship. I am confident that management is on the right path, however oil and gas can be a dirty and expensive business when the unexpected occurs.
That being said, as much of a proponent as I am, a 10% trade price below my cost forces me to place my stop-loss orders as of today. You could argue, that after the 2Q report, this is actually a BETTER company than when it was trading at $1.60, just with a lower dividend atm.
I can see you are must to intelligent to be concerned with Sypglass internals controls.i.e
Oil spill/leakages which has now resulted in dividends-cuts & all time lows for investors.
As I believe that current management is unable to make Spygass a sucessful energy player
As investor from Pace/Syygalss, I feel its imperative that current management entertain
and/or solicitate any offers ..Cresant Point (CPR), is another sucessful Alberta engery player I would think Creasant could offer ($4.50- $5.00 U.S) .. for Syglass resourses.
Currently Spyglass making all-time historic lows …...not good new !!!!
appears the weakness, and lack of confidence is from resulting internal controls (pipeline spillage).
I also recall similar pipeline issues with Pace Oil, before merged into Spyglass Corp.
If Spyglass management is having problems executing properties from merged companies .
I also hope Spyglass would seek to make sale of company assets with a successful
Alberta player such as MEG ENERGY, where there been very successful within there assets.
Meg Energy has been very pro-active in there endeavors to grow revenues with regard to
10.84% in USD in IRA.
8.38% in USD in Cash Account
I expect a Revenue Drop in Q3 (Est 12,250 BOED) & a Solid Pick-Up in Q4 (Est 14,800 BOED) as Dixonville returns to Full Capacity & the New Cessford Wells are on-line with more system capacity.
I expect one more 1,000 BOED Sale to Close in Q1 2015 to further reduce debt along with the 75% pay-out ratio to be retained until LT Debt stands at or below $150 MM.
2 additional sales will get us there at 1,000 BOED each but I am fairly certain management only wants to pare holdings while they replace sold volumes from core holdings. They wish to Target 14,000 BOED (I think). They stated at the Annual Mtg that they had 4,000 BOED in Non-Core Assets.
Once the Sales are complete & the Volumes Replaced we start back up the Dividend Ladder with a Low Debt to Capitalization Ratio.
The dividends on this stock seem to be eroding value. The price of the stock seems to decrease in proportion to dividends paid out
I think it looks better w div cut to .015CA monthly, ng prospects look really good, too bad ng is in the crapper in us/ca.. liked the reduction in debt, mgmt. seems a little more proactive, 3rdq w be a lot of drilling, ok to hold imo price will probably stay around 1.50-1.75US for a while.
did anyone on this board NOT expect a reduction in divys since inception? Reducing debt OK and assume will keep co viable for a number of addl years . How about pwe at these levels?
Absorbing it now. Not pleased with the almost 50% Div slash. Will see how much of an impact that has on trading.
I've had PGH for about 10 years. Not the company it used to be that's certain. My cost is 0 at this point so never considered selling it. PWE, well lets just say I cant be bothered selling it. My position in that is minimal. Even with 'tricky' accounting they cant seem to make these companies work. Best to stay in the small caps, at least that's where I've always had the best runs. Once they are fused into larger caps, its time to unload. never seems to work out.
Canada on sale again, doesn't take much for sure. Spyglass, Lightstream, Long Vue, Twin Butte, Zargon, Bonivista..even the biggies like CPG, BTE. smaller caps ripe for more consolidation for economies of scale. more bad news out of PWE on minor acctg issues has things spooked as well. PGH/PWE can't get out of their own ways. I like adding a basket of small caps here spreading the risk a little for the great yields . big mgmt. buys in TBTEF recently.. oh well. of course oil/ng prices in N. Am way off highs. Citibank oil analysts buying WTI contracts aggressively, saying temporary decline due to the Kansas refinery fire dropping demand for a few weeks. North American energy is the place to be.
The Magic continues with 11 - 200sh trades within 10 seconds of each other, then an 8600sh and a 2000sh trade, all at 1.56 and neatly tucked within the Bid/Ask range of 1.55/1.57. Wonder if they think "maybe no one's watching...."