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Magnum Hunter Resources Corp. Message Board

  • not_a_short not_a_short May 15, 2013 2:09 AM Flag

    Acccounting Issues

    Firing your well respected accountant is never good for the stock price. I wonder what the real situation/conflict was? I cannot recall a major accounting firm being dismissed in this manner.

    Not_A_Short

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Hey Shorty....long time...no see. You're back!....but spewing the same nonsense. Actually, I will agree it's never good for this type of thing to be going down, but it's obvious to even a myopic type as you that there were disagreements about issues in the reporting process. But these things are not uncommon and they DO happen...call them disagreements in philosophy. So if the parties are NOT on the same page, it is incumbent on MHR to find someone who IS. As for BDO, NO...they are NOT the well-respected firm some here have suggested. They are second tier...for a reason. BUT....they are probably a better choice for an outfit like MHR which is in the earlier stages of development. Leave those Big 4 firms to the Exxons of the world......

      • 3 Replies to slabman1
      • I am not sure what I said that could be considered nonsense. I have rarely seen a company change auditors due to a dispute like this. It has never happened liek this to a company I have owned and I have owned several hundred issues over the past 20 years. Normally the company will resolve the issues and then switch auditors after the issues are cleared up. The current situation introduces the concern of counter-party risk. This is something to be avoided at all cost. I didn't fully understand the issue of counter-party risk until the 2008-2009 debacle.

        Not_A_Short

      • Remember Arthur Andersen one of the biggest in the business, was Enrons accountant. Size only counts in sex.

        Sentiment: Buy

      • tlhew21@gmail.com tlhew21 May 15, 2013 11:42 AM Flag

        Incorrect slabman1 - PWC has a bigger name but not more respect in the oil and gas world which is where MHR is playing. BDO has forgotten more about oil and gas accounting than PWC ever knew.

        Sentiment: Strong Buy

    • I can recall at least 5 or 6 cases when i owned the stock. It happens probably once a month. The thing that was unusual was the timing and manner of PWC leaving. You are correct that the issue - until resolved - is never good for the stock price.

    • tlhew21@gmail.com tlhew21 May 15, 2013 9:32 AM Flag

      Nice try worm, if you have never heard of a company changing accounting firms you don't get out much.

    • not_a_short, is a short.
      PWC messed up, and did not do there job.
      Cover please before it is too late.

    • Actually the mhr employeed accountant resigned and then the auditors taking his place got fired. Sounds pretty fishy to me.

      • 2 Replies to sdfoster91
      • Keep lying fraud. I'm forwarding every lying post to MHR's investor relations and suggest others do the same. Just go to magnumhunterresources and select the 'contact us' tab. I hope they kick you out of your stinky, newspaper-lined, cage that you call home. Bucktooth tard.

        Sentiment: Strong Buy

      • tlhew21@gmail.com tlhew21 May 15, 2013 9:26 AM Flag

        You know you might have just tore your drawers with this one.... So let's let you dig in a little further before I bury you. You make statements as fact so just to show that you are a liar answer these questions.

        1. Did MHR have external auditors before PWC or was it all done in house?
        2. Did MHR hire another well respected firm that specializes in oil and gas acounting to replace PWC as auditor?
        3. Do you know the position of this so called accounting dept. employee that resigned and the reason if they do exist that they resigned?

        You are a fraud and that #$%$ me off. State fact do not twist the truth. If you are short and you have facts to back you position state them.

        You better realize you do not know who is on these boards or who or what they know. Fraud and slander are tough to prove in court unless of course you have it in writing.....

        Sentiment: Strong Buy

    • you smell like a dead donkey.you weren`t doing anything weird in Elpisso Texas were you?

    • not-a-short is back someome found his corpus at the graveyard

 
MHR
4.70+0.07(+1.40%)2:39 PMEDT

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