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Magnum Hunter Resources Corp. Message Board

  • commercegroup commercegroup Aug 9, 2011 1:05 PM Flag

    Today's "earnings"...

    Before I "comment", you should be aware that we've been on MHR for a long time and hold a rather sizable position in the common and the Pr-C...
    So here's my thoughts on today's announcements:
    With the heavy dilution and constant acquisitions and ongoing issuance of very high cost preferred debt and "revenues" that are sub-par (at best) and the market's response to todays announcements coupled with yesterdays price collapse, MHR is starting to "look" and "feel" like another company we once owned (SMBL) that was started and operated by another billionaire who had made his fortune selling a "similar" business. Living on one success from the past, they have yet to prove that lightning can strike twice in the same place and those who have been in since the early days have watched their investments continue to dilute and underperform.
    We're gonna hold our MHR's for now, but we may be revising our price targets to the downside shortly as we re-evaluate our investment. We're very disappointed and uncomfortable with today's announcements.

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