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Magnum Hunter Resources Corp. Message Board

  • jms54 jms54 Jul 6, 2013 8:19 AM Flag

    Tuesday Speculation

    So what can we expect to hear on Tuesday?

    That this accounting debacle is over!!!
    That the cumulative preferred dividends will be paid and hopefully the Cs will be redeemed.
    That we are in drill and produce with only continued small aquisitions
    That production was much lighter than expeced in q1 due to pipeline issues. And that these issues are resolved. This will definitely have an impact on revenues and earning which I expect to underperform.
    That we are still planning to sell 100 million of assets; maybe an announcement of a smallish sale that is done.
    That we will sell our PVA stock this year for 50 million.
    That we are going to start the marketing of the pipeline in late August or September and hopefully will have an announcement by year end.
    That we are still about 6 weeks from results or our first Utica well.
    Reaffirmation of 23-25K BOE/day by year end.

    Why do I think this will be what is said? Because if you listened to the recent presentations and conference calls this is what has been said. Will all this move the stock price higher? I sure hope so.

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    • One more thing, I also expect the Preferred C's to have an official call date.
      The Dividend of the D and E will also be announced.

    • One more thing, remember that MHR got all profits from the EF, until the sale finalized mid year.

      Sentiment: Strong Buy

    • exactly! Spot on

      Sentiment: Buy

    • ht0629@gmail.com ht0629 Jul 6, 2013 10:20 AM Flag

      You are correct on most points, the simple reason the share price has not moved higher is the accounting issues. The 10K was a start but many of the big money mutual funds, pension plans etc. cannot load up until all financials are up to date. That means the 10Q. Some will hold out for reserve reports as well but it is coming. Right now with what is known MHR is conservatively an $8 pps company with assets and reserves. How do you increase that? 1. add assets 2. reduce debt 3. Increase reserves.

      Exactly what MHR has been doing. The accounting mess was just that a mess, they thought just like any reasonable company or board would that how can you go wrong with hiring PWC as your auditor. However just like any company you have good teams and not so good teams. Oil and Gas accounting is complicated and the right people just did not get put on the MHR team. The board did exactly what they should have done and corrected the mistake once it became clear.

      They know what they are doing, look at the Stalder pad for example. Here we have a pad that overlaps the Marcellus and Utica formations. What if they drill a Utica well and it does not pan out is it a total loss?
      No they have a verticle that can be used for a marcellus well. Most areas a dry hole is a dry hole, time to P&A and eat the losses.

      This company is going to be sold for $13-$20 bucks a share in the next 36 months. At $13 bucks that's a 2.2 billion market cap which is where GE will start shopping IMO.

      Sentiment: Strong Buy

 
MHR
8.58-0.01(-0.12%)Apr 17 4:02 PMEDT

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